12-U.S.C.-194
§194 – Dividends On Adjusted Claims; Distribution of Assets
Pathway
Title 12 > Chapter 2 > Subchapter XIII > Section 194
Details
- Reference: Section 194
- Legend: §194 – Dividends On Adjusted Claims; Distribution of Assets
- USCode Year: 2013
Provision Content
From time to time, the comptroller shall make a ratable dividend of the money so paid over to him by such receiver on all such claims as may have been proved to his satisfaction or adjudicated in a court of competent jurisdiction, and, as the proceeds of the assets of such association are paid over to him, shall make further dividends on all claims previously proved or adjudicated; and the remainder of the proceeds, if any, shall be paid over to the shareholders of such association, or their legal representatives, in proportion to the stock by them respectively held.
(R.S. §5236; Pub. L. 103–325, title VI, §602(g)(12), Sept. 23, 1994, 108 Stat. 2294.)
Codification
R.S. §5236 derived from act June 3, 1864, ch. 106, §50, 13 Stat. 114, which was the National Bank Act. See section 38 of this title.
Amendments
1994—Pub. L. 103–325 struck out , after full provision has been first made for refunding to the United States any deficiency in redeeming the notes of such association after From time to time.
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 of functions 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, §4, 47 Stat. 1567.
U.S. Encyclopedia of Law Coverage
12-U.S.C.-183 in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-183, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.
12-U.S.C.-144 in the Legal Encyclopedia: Credit Institutions
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12-U.S.C.-141 in the Legal Encyclopedia: Banks
In this entry about 12-U.S.C.-141, find legal reference material, bibliographies and premiere content related to banks in the American Encyclopedia of Law, presenting a comprehensive view of the United States banks-specific issues, written by authorities in the field.
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