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ACT OF MAY 1, 1886

ACT OF MAY 1, 1886

CHAP. 73.-An Act to enable national banking associations to increase their capital

stock and to change their names or locations. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

(Section 1 was repealed by section 6 of Public Law 86_230,

73 Stat. 457.)

Sec. 2. (12 U.S.C. 30) (a) Any national banking association, upon written notice to the Comptroller of the Currency, may change its name, except that such new name shall include the word "National”.

(b) Any national banking association, upon written notice to the Comptroller of the Currency, may change the location of its main office to any authorized branch location within the limits of the city, town, or village in which it is situated, or, with a vote of shareholders owning two-thirds of the stock of such association for a relocation outside such limits and upon receipt of a certificate of approval from the Comptroller of the Currency, to any other location within or outside the limits of the city, town, or village in which it is located, but not more than thirty miles beyond such limits.

(c) COORDINATION WITH REVISED STATUTES.- In the case of a national bank which relocates the main office of such bank from 1 State to another State after May 31, 1997, the bank may retain and operate branches within the State from which the bank relocated such office only to the extent authorized in section 5155(e)(2) of the Revised Statutes.

SEC. 3. (12 U.S.C. 31) That all debts, liabilities, rights, provisions, and powers of the association under its old name shall devolve upon

and inure to the association under its new name. SEC. 4. (12 U.S.C. 32) That nothing in this act contained shall be so construed as in any manner to release any national banking association under its old name or at its old location from any liability, or affect any action or proceeding in law in which said association may be or become a party or interested.

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