View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

X-1280 a
November 20,1918.

Article !I, Re::;ul:1tio11 ::? 1 Series of ).SJ. 7: which relates to applications
for perrr.ission to exercise tn1.st

poo~ers

h<A.s been amended by the Board to

read as follows:
II

APPLICATIONS •

•

(a)_Qrigin:;..l AR.P1JC3.tj:.2._Jl-- A n::J.tion:;..l bank which has not heretofore
been granted 3. permit to exercise any trust powers desiring to exercise any
or all of the powers authorized by Section Il 1 sub-section (k)~ of the
Federal Reserve Act, as arLenJ.ed by the Act of Septerr.ber 26,1918, shall m::J.ke
application to the Federal Reserve Board on a form approved by said Board
(Form No. 61-a). Such application sha~l be fo1warded by the applying bank
to the chairrran of the board of directors of the Federal Reserve bank of its
district, and shall thereupon be transmitted to the Federal Reserve Board
for its action ..
(b) Supplerr,entary Applications-- A national bank ·Nh ich has heretofore
been granted permission to exercise any or all of the fiduciary powers
enumerated in Section 11 (k) as originally enacted 1 desiring to apply for
permission to exercise additional pONers, shall rr.ake application to the
Federal Reserve Board on a forn, appro·red by said 3oard (Forn, No. 61 b}.
Such application shall be forw:::l.rded to the F0deral Reserv3 Soard in the
s::J.me rr.anner as an original application.
(c) Pending- applic:::l.tions--A national b.nk 1 Nhos3 application for
permission to exercise trust pON3rs was filed before the passage of the
Act of Septerrber 26 1 1918 1 if it desires to exercise the adJitional p~Ners
enu~erated in Section II (k), as amended, rr.ay withdraw such application
and file a new application on Form 6la. If the original application is not
withdrawn, the Board will act upon it as to the powers enumerated in such
application, ::a.nd the applying bank rr.ay later file .a supplerrentary application
for the additional poNers desired on Forrr 6lb.
(d) Applications Heretofore Refused-- A national bank whose application
for permission to exercise trust po·Ners has heretofore been refused rrjust
file a neN application on Forrr, 6la if it desires to exercise any of the
powers enurrerated in Section II (k) as arr.ended.