§ 196. — Expenses.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC196]
TITLE 12--BANKS AND BANKING
CHAPTER 2--NATIONAL BANKS
SUBCHAPTER XIII--RECEIVERSHIP
Sec. 196. Expenses
All expenses of any preliminary or other examinations into the
condition of any association shall be paid by such association. All
expenses of any receivership shall be paid out of the assets of such
association before distribution of the proceeds thereof.
(R.S. Sec. 5238; Pub. L. 103-325, title VI, Sec. 602(g)(13), Sept. 23,
1994, 108 Stat. 2294.)
Codification
R.S. Sec. 5238 derived from act June 3, 1864, ch. 106, Sec. 51, 13
Stat. 115, which was the National Bank Act. See section 38 of this
title.
Amendments
1994--Pub. L. 103-325 struck out at beginning ``All fees for
protesting the notes issued by any national banking association shall be
paid by the person procuring the protest to be made, and such
association shall be liable therefor; but no part of the bonds deposited
by such association shall be applied to the payment of such fees.''
