§ 91. — Transfers by bank and other acts in contemplation of insolvency.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC91]
TITLE 12--BANKS AND BANKING
CHAPTER 2--NATIONAL BANKS
SUBCHAPTER IV--REGULATION OF THE BANKING BUSINESS; POWERS AND DUTIES OF
NATIONAL BANKS
Sec. 91. Transfers by bank and other acts in contemplation of
insolvency
All transfers of the notes, bonds, bills of exchange, or other
evidences of debt owing to any national banking association, or of
deposits to its credit; all assignments of mortgages, sureties on real
estate, or of judgments or decrees in its favor; all deposits of money,
bullion, or other valuable thing for its use, or for the use of any of
its shareholders or creditors; and all payments of money to either, made
after the commission of an act of insolvency, or in contemplation
thereof, made with a view to prevent the application of its assets in
the manner prescribed by chapter 4 of title 62 of the Revised Statutes,
or with a view to the preference of one creditor to another, except in
payment of its circulating notes, shall be utterly null and void; and no
attachment, injunction, or execution, shall be issued against such
association or its property before final judgment in any suit, action,
or proceeding, in any State, county, or municipal court.
(R.S. Sec. 5242.)
References in Text
Chapter 4 of title 62 of the Revised Statutes, referred to in text,
was in the original ``this chapter'', meaning chapter 4 of title 62 of
the Revised Statutes, consisting of R.S. Secs. 5220 to 5244, which are
classified to sections 43, 91, 93, 93a, 181, 182, 192 to 194, 196, and
481 to 485 of this title. See, also, section 709 of Title 18, Crimes and
Criminal Procedure. For complete classification of R.S. Secs. 5220 to
5244 to the Code, see Tables.
Codification
R.S. Sec. 5242 derived from act June 3, 1864, ch. 106, Sec. 52, 13
Stat. 115, which was the National Bank Act, and act Mar. 3, 1873, ch.
269, Sec. 2, 17 Stat. 603. See section 38 of this title.
