§ 67. — Individual liability of shareholders; compromises; authority of receiver.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC67]
TITLE 12--BANKS AND BANKING
CHAPTER 2--NATIONAL BANKS
SUBCHAPTER II--CAPITAL, STOCK, AND STOCKHOLDERS
Sec. 67. Individual liability of shareholders; compromises;
authority of receiver
Any receiver of a national banking association is authorized, with
the approval of the Comptroller of the Currency and upon the order of a
court of record of competent jurisdiction, to compromise, either before
or after judgment, the individual liability of any shareholder of such
association.
(Feb. 25, 1930, ch. 58, 46 Stat. 74.)
Exception as to Transfer of Functions
Functions vested by any provision of law in Comptroller of the
Currency, referred to in this section, not included in transfer to
Secretary of the Treasury, see note set out under section 1 of this
title.
Application to District of Columbia
Provisions of this section were made applicable to banks, etc., in
the District of Columbia by act Mar. 4, 1933, ch. 274, Sec. 4, 47 Stat.
1567.
