Sec. 9. That any national banking association now organized or hereafter organized, desiring to withdraw its circulating notes, upon a deposit of lawful money with the Treasurer of the United States, as provided in section four of the act of June 20, 1874, or as provided in this act, is authorized to deposit lawful money and withdraw a proportionate amount of the bonds held as security for the circulating notes in the order of such deposits; and no national bank which makes any deposit of lawful money in order to withdraw its circulating notes, shall be entitled to receive any increase of its circulation for the period of six months from the time it nwle such deposit of lawful money for the purpose aforesaid: Provided, that not more than three millions of dollars of lawful money shall be deposited during any calendar month for this purpose; and provided further, that the provisions of this section shall not apply to bonds called for redemption by the Secretary of the Treasury, nor to the withdrawal of circulating notes in consequence thereof.

Sec. 10. That upon a deposit of bonds as described by Sec. Sec. 5159,5160, except as modified by section four, of the act of June 20, 1874. and as modified by section eight of this act. the association making the same shall be entitled to receive from the Comptroller of the Currency circulating notes of different denominations, in blank, registered and countersigned as provided by law, equal in amount to ninety per centum of the current market value, not exceeding par, of the United States bonds so transferred and delivered, and at no time shall the total amount of such notes issued to any such association exceed ninety per centum of the amounts at such time paid in of its capital stock; and the provisions of Revised Statutes, Sec. & 5171 and 5176, are hereby repealed.

[Act of March 14, 1900, allows national banking associations to issue circulating notes up to the par value of the bonds deposited and up to the full amount of the capital stock.]

Sec. 11 provides for the exchange of three and one-half per centum bonds for registered bonds of the United States.

Sec. 12 provides for the reception by the Secretary of the Treasury of gold coin and the issuance of certificates therefor in denominations of not less than twenty dollars and provides for the retaining of the coin deposits in the Treasury. Said certificates shall be receivable for customs, taxes, and all public dues, and when so received may be re-issued; and such certificates and also silver certificates when held by any national banking association, shall be counted as part of its lawful reserve; and no national banking association shall be a member of any clearinghouse in which such certificates shall not be receivable in the settlement of clearing-house balances: Provided, that the Secretary of the Treasury shall suspend the issue of such gold certificates whenever the amount of gold coin and gold bullion in the treasury reserve for the redemption of United States notes falls below one hundred million dollars; and the provisions of Revised Statutes, Sec. 5207, shall be applicable to the certificates herein authorized and directed to be issued.

[Act of March 14, 1900, makes the gold reserve in the Treasury one hundred and fifty million dollars.]

Sec. 13. That any officer, clerk or agent of any national banking association who shall wilfully violate the provisions of Sec. 5208, Revised Statutes, or who shall resort to any device, or receive a fictitious obligation, directly or as collateral, in order to avoid the provisions thereof, or who shall certify checks before the amount thereof shall have been regularly entered to the credit of the dealer upon the books of the banking association, shall be guilty of a misdemeanor, and shall on conviction thereof in any circuit or district court of the United States, be fined not more than five thousand dollars, or shall be imprisoned not more than five years, or both, in the discretion of the court.

Sec. 5137. Power to Hold Real Property. - A national banking association may purchase, hold, and convey real estate for the following purposes, and for no others:

First. Such as shall be necessary for its immediate accommodation in the transaction of its business.

Second. Such as shall be mortgaged to it in good faith by way of security for debts previously contracted.

Third. Such as shall be conveyed to it in satisfaction of debts previously contracted in the course of its dealings.

Fourth. Such as it shall purchase at sales under judgments, decrees, or mortgages held by the association, or shall purchase to secure debts due to it.

But no such association shall hold the possession of any real estate under mortgage, or the title and possession of any real estate purchased to secure any debts due to it, for a longer period than five years.

Sec. 5138. Requisite Amount of Capital. - No association shall be organized under this title with a less capital than one hundred thousand dollars; except that banks with a capital of not less than fifty thousand dollars may, with the approval of the Secretary of the Treasury, be organized in any place the population of which does not exceed six thousand inhabitants. No association shall be organized in a city the population of which exceeds fifty thousand persons with a less capital than two hundred thousand dollars.

[Act of March 14, 1900, allows formation of national banking associations with capital of $25,000 in cities with less than 3,000 inhabitants.]

Sec. 5139. Shares of Stock and Transfers. - The capital stock of such association shall be divided into shares of one hundred dollars each, and be deemed personal property, and transferable on the books of the association in such manner as may be prescribed in the by-laws or articles of association. Every person becoming a shareholder by such transfer shall, in proportion to his shares, succeed to all the rights and liabilities of the prior holder of such shares; and no change shall be made in the articles of association, by which the rights, remedies, or security of the existing creditors of the association shall be impaired.