Amendments to Federal Deposit Insurance Act, 1950: Hearings Before the Committee on Banking and Currency, House of Representatives, Eighty-first Congress, Second Session, on S. 2822, an Act to Amend the Federal Deposit Insurance Act. June 20, 21 and 22, 1950
U.S. Government Printing Office, 1950 - 151 pages
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accounts additional agencies amended amount ARTHUR assessment assets Association authority bankers banking system base believe bill billion BIRDZELL Board of Directors bonds Brown capital Chairman closed committee Comptroller confidence CONGRESS THE LIBRARY Cook correct course coverage Currency demand Deposit Insurance Corporation depositors dividend dollars earnings effect examination experience fact FDIC Federal Deposit Insurance Federal Reserve Federal Reserve Board figures follows formula funds further give Government income increase institution insured bank interest investment legislation liability limit loans losses matter member banks ment MULTER mutual national bank operating original paid PATMAN payment percent period position premium present proposed protect provision question reason receiver record reduction referred reports represent respect risk savings banks Senate situation statement surplus tion Treasury United WIGGINS
Page 14 - The Corporation, including its franchise, its capital, reserves, and surplus, and its income shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority...
Page 15 - The representatives of the General Accounting Office shall have access to all books, accounts, financial records, reports, files, and all other papers, things, or property belonging to or in use by the District and necessary to facilitate the audit, and they shall be afforded full facilities for verifying transactions with the balances or securities held by depositories, fiscal agents, and custodians.
Page 14 - Any and all notes, debentures, bonds or other such obligations issued by the corporation shall be exempt both as to principal and Interest from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by the United States, by any territory, dependency or possession thereof, or by any state, county, municipality or local taxing authority.
Page 9 - ... any failure to obey such order of the court may be punished by such court as a contempt thereof. All process in any such case may be served in the judicial district whereof such person is an inhabitant or wherever he may be found.
Page 8 - Such attendance of witnesses and the production of any such papers may be required from any place in any State or in any Territory or other place subject to the jurisdiction of the United States at any designated place where such...
Page 7 - Third. To make contracts. Fourth. To sue and be sued, complain and defend, in any court of law or equity.
Page 8 - ... who shall have power to make a thorough examination into all the affairs of the association, and, in doing so, to examine any of the officers and agents thereof on oath, and shall make a full and detailed report of the condition of the association to the Comptroller...
Page 7 - ... 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.