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Bank not cooperating? Might want to show them this...
or fail to comply with any of the provisions of this
chapter applicable thereto, all of the rights, privileges, and
franchises of such association granted to it under the National
Bank Act [12 U.S.C. 21 et seq.], or under the provisions of this
chapter, shall be thereby forfeited. Any noncompliance with or
violation of this chapter shall, however, be determined and
adjudged by any court of the United States of competent
jurisdiction in a suit brought for that purpose in the district or
territory in which such bank is located, under direction of the
Board of Governors of the Federal Reserve System by the Comptroller
of the Currency in his own name before the association shall be
declared dissolved. In cases of such noncompliance or violation,
other than the failure to become a member bank under the provisions
of this chapter, every director who participated in or assented to
the same shall be held liable in his personal or individual
capacity for all damages which said bank, its shareholders, or any
other person shall have sustained in consequence of such violation.
Such dissolution shall not take away or impair any remedy against
such corporation, its stockholders, or officers, for any liability
or penalty which shall have been previously incurred.
What do you guys think?
chapter applicable thereto, all of the rights, privileges, and
franchises of such association granted to it under the National
Bank Act [12 U.S.C. 21 et seq.], or under the provisions of this
chapter, shall be thereby forfeited. Any noncompliance with or
violation of this chapter shall, however, be determined and
adjudged by any court of the United States of competent
jurisdiction in a suit brought for that purpose in the district or
territory in which such bank is located, under direction of the
Board of Governors of the Federal Reserve System by the Comptroller
of the Currency in his own name before the association shall be
declared dissolved. In cases of such noncompliance or violation,
other than the failure to become a member bank under the provisions
of this chapter, every director who participated in or assented to
the same shall be held liable in his personal or individual
capacity for all damages which said bank, its shareholders, or any
other person shall have sustained in consequence of such violation.
Such dissolution shall not take away or impair any remedy against
such corporation, its stockholders, or officers, for any liability
or penalty which shall have been previously incurred.
What do you guys think?
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