§ 39. — Reservation of rights of associations organized under Act of 1863.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC39]
TITLE 12--BANKS AND BANKING
CHAPTER 2--NATIONAL BANKS
SUBCHAPTER I--ORGANIZATION AND GENERAL PROVISIONS
Sec. 39. Reservation of rights of associations organized under
Act of 1863
Nothing in title 62 of the Revised Statutes shall affect any
appointments made, acts done, or proceedings had or commenced prior to
the third day of June 1864, in or toward the organization of any
national banking association under the act of February 25, 1863; but all
associations which, on the third day of June 1864, were organized or
commenced to be organized under that act, shall enjoy all the rights and
privileges granted, and be subject to all the duties, liabilities, and
restrictions imposed by title 62 of the Revised Statutes,
notwithstanding all the steps prescribed by title 62 of the Revised
Statutes for the organization of associations were not pursued, if such
associations were duly organized under that act.
(R.S. Sec. 5156.)
References in Text
Title 62 of the Revised Statutes, referred to in text, was in the
original ``this Title'' meaning title LXII of the Revised Statutes,
consisting of R.S. Secs. 5133 to 5244, which are classified to sections
21, 22 to 24a, 25a, 26, 27, 29, 35 to 37, 39, 43, 52, 53, 55 to 57, 59
to 62, 66, 71, 72 to 76, 81, 83 to 86, 90, 91, 93, 93a, 94, 141 to 144,
161, 164, 181, 182, 192 to 194, 196, 215c, 481 to 485, 501, 541, 548,
and 582 of this title. See, also, sections 8, 333, 334, 475, 656, 709,
1004, and 1005 of Title 18, Crimes and Criminal Procedure. For complete
classification of R.S. Secs. 5133 to 5244 to the Code, see Tables.
Act of February 25, 1863, referred to in text, was act Feb. 25,
1863, ch. 58, 12 Stat. 665, which was the original National Bank Act,
and was repealed by act June 3, 1864, ch. 106, Sec. 62, 13 Stat. 118.
Codification
R.S. Sec. 5156 derived from act June 3, 1864, ch. 106, Sec. 62, 13
Stat. 118, which was the National Bank Act. See section 38 of this
title.
