Sec. 21. Sec. 5240, U. S. Rev. Sts., is amended to read as follows:

The Comptroller of the Currency, with the approval of the Secy. of the Treas., shall appoint examiners who shall examine every member bank at least twice in each calendar year and oftener if considered necessary: Provided, however, That the Fed. Res. Board may authorize examination by the State authorities to be accepted in the case of- State banks and Tr. Cos. and may at any time direct the holding of a special examination of State banks or Tr. Cos. that are stockholders in any Fed. Res. bank. The examiner making the examination of any Nat. Bank, or of any other member bank, shall have power to make a thorough examination of all the affairs of the bank and in doing so he shall have power to administer oaths and to examine any of the officers and agents thereof under oath and shall make a full and detailed report of the condition of said bank to the Comptroller of the Currency.

The Fed. Res. Board, upon the recommendation of the Comptroller of the Currency, shall fix the salaries of all bank examiners and make report thereof to Congress. The expense of the examinations herein provided for shall be assessed by the Comptroller of the Currency upon the banks examined in proportion to assets or resources held by the banks upon the dates of examination of the various banks.

In addition to the examinations made and conducted by the Comptroller of the Currency, every Fed. Res. bank may, with the approval of the Fed. Res. agent or- the Fed. Res. Board, provide for special examination of member banks within its Dist. The expense of such examinations shall be borne by the bank examined. Such examinations shall be so conducted as to inform the Fed. Res. bank of the condition of its member banks and of the lines of credit which are being extended by them. Every Fed. Res. bank shall at all times furnish to the Fed. Res. Board such information as may be demanded concerning the condition of any member bank within the Dist. of the said Fed. Res. bank.

No bank shall be subject to any visitatorial powers other than such as are authorized by law, or vested in the courts of justice or such as shall be or shall have been exercised or directed by Congress, or by either House thereof or by any committee of Congress or of either House duly authorized.

The Fed. Res. Board shall, at least once each year, order an examination of each Fed. Res. bank, and upon joint application of 10 member banks the Fed. Res. Board shall order a special examination and report of the condition of any Fed. Res. bank.

Sec. 22. No member bank or any officer, director, or employee thereof shall hereafter make any loan or grant any gratuity to any bank examiner. Any bank officer, director, or employee violating this provision shall be deemed guilty of a misdemeanor and shall be imprisoned not exceeding one year or fined not more than $5,000, or both; and may be fined a further sum equal to the money so loaned or gratuity given. Any examiner accepting a loan or gratuity from any bank examined by him or from an officer, director, or employee thereof shall be deemed guilty of a misdefederal Reserve Act meanor and shall be imprisoned not exceeding one year or fined not more than $5,000, or both; and may be fined a further sum equal to the money so loaned or gratuity given; and shall forever thereafter be disqualified from holding office as a Nat .-bank examiner. No Nat .-bank examiner shall perform any other service for compensation while holding such office for any bank or officer, director, or employee thereof. |

Other than the usual salary or director's fee paid to any officer, director, employee, or Atty. of a member bank and other than a reasonable fee paid by said bank to such officer, director, employee, or Atty. for services rendered to such bank, no officer, director, employee, or Atty. of a member bank shall be a beneficiary of or receive, directly, or indirectly, any fee, commission gift, or other consideration for or in connection with any transaction or business of the bank: Provided, however, That nothing in this Act contained shall be construed to prohibit a director, officer, employee, or Atty. from receiving the same rate of Int. paid to other depositors for similar deposits made with such bank: And provided further, That notes, drafts, bills of exchange, or other evidences of debt executed or indorsed by directors or Attys. of a member bank may be discounted with such member bank on the same terms and conditions as other notes, drafts, bills of exchange, or evidences of debt upon the affirmative vote or written assent of at least a majority of the members of the board of directors of such member bank. No examiner, public or private, shall disclose the names of borrowers or the collateral for loans of a member bank to other than the proper officers of such bank without first having obtained the express permission in writing from the Comptroller of the Currency, or from the board of directors of such bank, except when ordered to do so by a court of competent jurisdiction, or by direction of the Congress of the U. S., or of either House thereof, or any committee of Congress or of either House duly authorized. Any person violating any provision of this Sec. shall be punished by a fine of not exceeding $5,000 or by imprisonment not exceeding one year, or both.

Except as provided in existing laws, this provision shall not take effect until 60 days after the passage of this Act.

Sec. 23. The stockholders of every Nat. B'k'g. Asso. shall be held individually responsible for all contracts, debts, and engagements of such Asso., each to the amount of his stock therein, at the par value thereof in addition to the amount invested in such stock. The stockholders in any Nat. B'k'g. Asso. who shall have transferred their shares or registered the transfer thereof within 60 days next before the date of the failure of such Asso. to meet its obligations, or with knowledge of such impending failure, shall be liable to the same extent as if they had made no such transfer, to the extent that the subsequent transferee fails to meet such liability; but this provision shall not be construed to affect in any way any recourse which such shareholders might otherwise have against those in whose names such shares are registered at the time of such failure.