§ 131 to 138. — Repealed.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC131]
TITLE 12--BANKS AND BANKING
CHAPTER 2--NATIONAL BANKS
SUBCHAPTER VII--PROCEEDINGS ON FAILURE OF BANK TO REDEEM CIRCULATING
NOTES
Secs. 131 to 138. Repealed. Pub. L. 103-325, title VI,
Sec. 602(e)(14)-(21), Sept. 23, 1994, 108 Stat. 2292
Section 131, R.S. Sec. 5226; June 20, 1874, ch. 343, Sec. 3, 18
Stat. 123, related to protest of notes and waiver of demand and notice
of protest.
Section 132, R.S. Sec. 5227, related to appointment by Comptroller
of the Currency of special agent to examine failure of national banking
association to redeem its circulating notes and provided for forfeiture
of association's bonds to United States based on findings of agent.
Section 133, R.S. Sec. 5228; Feb. 18, 1875, ch. 80, Sec. 1, 18 Stat.
320, prohibited banking associations from continuing in business after
default.
Section 134, R.S. Sec. 5229, provided that, upon declaration of
forfeiture of association's bonds, Comptroller of the Currency was to
notify holders of circulating notes to present notes for payment and was
authorized to cancel bonds pledged by association.
Section 135, R.S. Sec. 5232, related to disposition of redeemed
notes and perpetuation of evidence of payment of such notes.
Section 136, R.S. Sec. 5233, related to cancellation of redeemed
notes.
Section 137, R.S. Sec. 5230, provided Comptroller of the Currency
with option of selling defaulting association's bonds at auction, rather
than cancelling them, and granted United States paramount lien on all
association assets in case of deficiencies from such sale.
Section 138, R.S. Sec. 5231, related to private sale of defaulting
association's bonds by Comptroller of the Currency.
