12 U.S.C. § 196

Current through P.L. 118-47 (published on www.congress.gov on 03/23/2024)

Section 196 - Expenses

All expenses of any preliminary or other examinations into the condition of any association shall be paid by such association. All expenses of any receivership shall be paid out of the assets of such association before distribution of the proceeds thereof.

12 U.S.C. § 196

R.S. §5238; Pub. L. 103-325, title VI, §602(g)(13), Sept. 23, 1994, 108 Stat. 2294.

EDITORIAL NOTES

CODIFICATIONR.S. §5238 derived from act June 3, 1864, ch. 106, §51, 13 Stat. 115, which was the National Bank Act. See section 38 of this title.

AMENDMENTS1994- Pub. L. 103-325 struck out at beginning "All fees for protesting the notes issued by any national banking association shall be paid by the person procuring the protest to be made, and such association shall be liable therefor; but no part of the bonds deposited by such association shall be applied to the payment of such fees."

person

The term "person" means an individual, partnership, company, corporation, association (incorporated or unincorporated), trust, estate, cooperative organization, or other entity.