US Codex
U.S.C.
Notes

§181. Voluntary dissolution; appointment and removal of liquidating agent or committee; examination — Inbound Citations

12 U.S.C. § 181

Cited by 3 provisions in release 119-102.

Citations to 12 U.S.C. § 181 as a whole

  • As used in this subchapter, the term “bank” means any national banking association or any other financial institution chartered or licensed under Federal law and subject to the supervision of the Comptroller of the Currency; the term “voluntary dissolution and liquidation” means a transaction pursuant to section 181 of this title that involves the assumption of the bank’s insured deposit liabilities and the sale of the bank, or of control of the bank, as a going concern; and the term “State” means any State, Territory, or possession of the United States, and the Canal Zone.
  • If any member bank shall be declared insolvent and a receiver appointed therefor, the stock held by it in said Federal reserve bank shall be canceled, without impairment of its liability, and all cash-paid subscriptions on said stock, with one-half of 1 per centum per month from the period of last dividend, if earned, not to exceed the book value thereof, shall be first applied to all debts of the insolvent member bank to the Federal reserve bank, and the balance, if any, shall be paid to the receiver of the insolvent bank.
  • (19) The provisions of sections 181 and 182 of this title shall not apply to a new depository institution under this subsection.