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U.S. Code/Title 12/§ 192

Title 12

12

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12 U.S.C. § 192.Chapter 2

§ 192

Default in payment of circulating notes

Title 12
1 min read
Subchapter: RECEIVERSHIP

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Back to Chapter 2Previous: § 191Next: § 193

On becoming satisfied, as specified in sections 131 and 132  of this title, that any association is in default, the Comptroller of the Currency may forthwith appoint a receiver, and require of him such bond and security as he deems proper. Such receiver, under the direction of the Comptroller, shall take possession of the books, records, and assets of every description of such association, collect all debts, dues, and claims belonging to it, and, upon the order of a court of record of competent jurisdiction, may sell or compound all bad or doubtful debts, and, on a like order, may sell all the real and personal property of such association, on such terms as the court shall direct. Such receiver shall pay over all money so made to the Treasurer of the United States, subject to the order of the Comptroller, and also make report to the Comptroller of all his acts and proceedings.1

Related Legislation

(1 bill)

Bills that would modify or reference this section of law.

S-5256

Abuse of the Pardon Prevention Act of 2026

Catherine Marie Cortez Masto

Nevada senator

  1. senate
  2. house
  3. president
8/5/2026
§ 191

Release: pl-119-102 (2026-07-12)

§ 193

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