✓ Sec. 1. ✓Sec. 2. Sec. 3. 3(a) 3(b) 3(c) FEDERAL DEPOSIT INSURANCE ACT TABLE OF CONTENTS Federal Deposit Insurance Corporation, creation; duties... State bank and State. State member bank. District bank.. Page 3 3 3 4 4 4 4 4 4 3(h) Insured bank. Banks insured on effective date continue insured. National and Federal Reserve State member banks, certificate Admission to insurance, State banks and national nonmember banks Rate, base, additions and deductions. Certified statement and payment of assessment 7(e) Refunds.. 14 7(f) 7(g) Compelling bank to file report of condition or certified statement. 14 14 7(h) Failure to file report of condition or certified statement or pay assessment by national member bank and insured national nonmember bank.. State member bank, membership in Federal Reserve System also terminates; ceasing to be member of System terminates in Sec. 10(a) 10(b) 10(c) Appointment of examiners and claim agents, powers and duties. Records of Corporation, reproduction and destruction. Sec. 11(a) 11(b) 11(c) 11(d) 11(e) 11(f) -11(g) 11(h) 11(i) 11(j) 11(k) Funds of new national bank, payment of transferred deposits. 11(1) Purchase of new national bank; winding up affairs of new national bank.. Sec. 12(a) 12(b) 12(c) Bond of Corporation as receiver of closed national bank or District 12(d) 12(e) Depositor's liability to closed bank offset against insured deposit. Deposit of Corporation's funds; financial agent for Government and depositary of public funds... 13(c) Loans to or Purchase of Assets from closed insured banks or insured banks in danger of closing.. 13(d) Loans to or Purchase of Assets from receivers or liquidators of closed insured banks.. 13(e) Loans to or Purchase of Assets of insured banks; agreements diminishing Corporation's interest. Forms for notes, debentures, bonds and other obligations. 17(b) 17(c) Audit of financial transactions by General Accounting Office. 17(d) Employment of professional firms for audit; payment of costs of Payment of dividends by insured bank while in default of assessments.. 18(c) 18(d) Establishing new branches, moving main office; approval of Corporation.. 18(e) Indemnity insurance, Corporation may require. 18(f) Failure to comply with recommendations of Corporation. 18(g) Regulation of payment of interest on deposit in insured nonmember Loans to or purchase of securities of affiliates; collateral acceptable. Sec. 19. Directors, officers, and employees of insured banks; criminals Administration of affairs, obligations and expenses, free use of mails, facilities of other agencies.. Insurance Fund, effective date of insurance, maximum amount of insurance.. When bank deemed closed on account of inability to meet demands Appointment of Corporation as receiver of insured national or Rights, powers and duties of Corporation as receiver of insured Appointment of Corporation as receiver of closed insured State bank; rights, powers and duties. Methods of paying insured deposits in closed bank. Subrogation of Corporation to rights of depositor in closed insured bank.. New national bank to assume deposits of closed insured bank. Mergers, consolidations, asset acquisitions, deposit assumptions 44 48 |