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NOTES OF ADVISORY COMMITTEE ON RULES This form is a simplification of Official Form No. 23. It may be used for an individual bond under Rule 13-205 (b) (2) or, by modification of the caption, the reference in the bond to the debtor, and, where necessary, the reference to the principal, it may be adapted for use when a blanket bond is given under Rule 13-205(a) (2) or (b) (2). Unless otherwise provided by local rule, the bond of a standing trustee is to be filed with the clerk of court in accordance with Rule 13-205(a) (2) and any other trustee's bond is to be filed with the referee in accordance with Rule 13–205(b) (2).

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NOTES OF ADVISORY COMMITTEE ON RULES This form is an adaptation of Official Form No. 24. This order constitutes conclusive evidence of the trustee's appointment and qualification under Rule 13-205 (f) and, when a certified copy of the order is recorded, constructive notice of the pendency of the Chapter XIII case is afforded thereby to subsequent purchasers and lienors of the debtor's real property as provided in § 21g of the Act. The form may be adapted for use when a blanket bond is given pursuant to Rule 13-205(a)(2) or (b)(2). Rule 13-205(b) (2) also authorizes the court to approve other security than a bond and the order approving other security also constitutes conclusive evidence of the trustee's appointment and qualification under Rule 13205 (f), but recordation of such an order would not come within the scope of § 21g. A copy of the petition may be recorded pursuant to § 21g, however.

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bond or other security in other case, constitutes conclusive evidence of the trustee's appointment and qualification under Rule 13-205 (1). Recordation of this order does not impart constructive notice under § 21g of the Act, but a copy of the petition may be recorded pursuant to § 21g.

FORM 13-14. ORDER FIXING TIME TO REJECT MODIFICATION OF PLAN PRIOR TO CONFIRMATION, COMBINED WITH NOTICE THEREOF.

[Caption, other than designation, as in Form No. 13-11

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is fixed as the last day for filing a written rejection of the modification.

2. A copy [or A summary] of the modification is attached hereto. Any creditor who has accepted, or who is deemed to have accepted, the plan and who fails to file a written rejection of the modification within the time above specified shall be deemed to have accepted the plan as modified. Dated:

------)

Bankruptcy Judge.

NOTES OF ADVISORY COMMITTEE ON RULES

This form, which is new, combines the order and notice provided for by Rule 13-212 where the debtor proposes a modification of a plan prior to confirmation.

FORM 13-15. ORDER CONFIRMING PLAN. [Caption, other than designation, as in Form No. 13-11

ORDER CONFIRMING PLAN

-

The debtor's plan filed on [if appropriate, as modified by a modification filed on ------,] having been transmitted to his credi

tors; and [If appropriate] The deposit required by the plan in the sum of $....... having been made; and

----

It having been determined after hearing on notice: (1) That the plan has been accepted in writing, or is deemed to have been accepted, by the creditors whose acceptance is required by law [or by all creditors affected thereby]; and

(2) That the plan has been proposed and its acceptance procured in good faith and not by any means, promises, or acts forbidden by law [and, if the plan is accepted by less than all affected creditors, the provisions of Chapter XIII of the Act have been complied with, the plan is for the best interests of the creditors and is feasible, and the debtor has not been guilty of any of the acts or failed to perform any of the duties which would be a bar to the discharge of a bankrupt];

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NOTES OF ADVISORY COMMITTEE ON RULES

This form combines and revises Official Forms Nos. 61 and 62 to comply with Rule 13-213. As provided in that rule, the amount of payments to be made under the plan need not be contained in paragraph 2 of the order if specified in the confirmed plan, although the manner in which payments are to be made by the debtor or obtained from his employer should be specified. In any event, however, Rule 13-213(b) permits deletion of paragraph 2 from the order of confirmation and the susbtitution of a separate payment order.

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had a plan confirmed, and has completed all payments under said plan [or has failed to complete payments under the plan due to circumstances for which he cannot justify be held accountable], it is ordered that:

1. The above-named debtor is released from all dischargeable debts.

2. Any judgment heretofore or hereafter obtained in any court other than this court is null and void as a determination of the personal liability of the debtor with respect to any of the following:

(a) debts dischargeable under § 17 a and b and § 660 [or § 661] of the Act;

(b) unless heretofore or hereafter determined by order of this court to be nondischarge

able, debts alleged to be excepted from discharge under clauses (2) and (4) of § 17a of the Act;

(c) unless heretofore or hereafter determined by order of this court to be nondischargeable, debts alleged to be excepted from discharge under clause (8) of § 17a of the Act, except those debts on which an action was pending on the date when the petition was filed as specified above in which a right to jury trial existed and a party has either made a timely demand therefor or has submitted to this court a signed statement of intention to make such a demand; (d) debts determined by this court to be discharged under § 17c (3) of the Act.

3. All creditors whose debts are discharged by this order and all creditors whose judgments are declared null and void by paragraph 2 above are enjoined from instituting or continuing any action or employing any process to collect such debts as personal liabilities of the above-named debtor. Dated:

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NOTES OF ADVISORY COMMITTEE ON RULES This form is a revision of Official Form No. 45 to include the features required by § 14f of the Act. The dischargeable debts referred to in paragraph 1 include, under § 660 and § 661 of the Act, debts otherwise not dischageable under § 17 if held by creditors who have accepted the plan. The form takes account of 1970 amendments which added §§ 14f, 17b, and 17c and amended § 17a of the Act. The form goes beyond the requirements of new § 141 to include in the discharge order, as an aid to the debtor and to any other court to which he may present his discharge, an indication in subparagraphs (b) and (c) of paragraph 2 that exceptions to discharge under clauses (2), and (4), and in some instances (8) of § 17a of the Act can only be invoked in the bankruptcy court pursuant to Rule 13407(a) (2). As provided in Rule 13-404 (e), a copy of the order of discharge must be mailed to the persons specified in Rule 13-404(b)(1) within 45 days after the order becomes final.

GENERAL ORDER AND FORMS IN BANKRUPTCY
TO BE ABROGATED

The following General Order and Official Forms in Bankruptcy heretofore adopted by the Supreme Court are to be abrogated:

General Order 55

Official Forms 58 to 62 inclusive.

Chap.

TITLE 12.-BANKS AND BANKING

Sec. 2001 2281

23. Farm Credit System [New]..

24. Federal Financing Bank [New]..

25. National Commission on Electronic Fund Transfers [New].....

2401

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The Secretary of the Treasury shall appoint no more than four Deputy Comptrollers of the Currency, one of whom shall be designated First Deputy Comptroller of the Currency, and shall fix their salaries. Each Deputy Comptroller shall take the oath of office and shall perform such duties as the Comptroller shall direct. During a vacancy in the office or during the absence or disability of the Comptroller, each Deputy Comptroller shall possess the power and perform the duties attached by law to the office of the Comptroller under such order of succession following the First Deputy Comptroller as the Comptroller shall direct. (As amended June 6, 1972, Pub. L. 92-310, title II, § 223(b), 86 Stat. 206.) AMENDMENTS

1972-Pub. L. 92-310 eliminated provisions which required each Deputy Comptroller to give a bond in the sum of $100,000.

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in section 9 of this title.

Chapter 2.-NATIONAL BANKS

NATIONAL BANK ACT REFERRED TO IN OTHER SECTIONS Section 21 et seq. of this title is referred to in section 1817 of this title.

ORGANIZATION AND GENERAL PROVISIONS § 24. Corporate powers of associations.

Upon duly making and filing articles of association and an organization certificate a national banking association shall become, as from the date of the execution of its organization certificate, a body corporate, and as such, and in the name designated in the organization certificate, it shall have power

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Seventh. To exercise by its board of directors or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin, and bullion; by loaning money on personal security; and by obtaining, issuing, and circulating notes according to the provisions of this chapter. The business of dealing in securities and stock by the association shall be limited to purchasing and selling such securities and stock without recourse, solely upon the order, and for the account of, customers, and in no case for its own account, and the association shall not underwrite any issue of securities or stock: Provided, That the association may purchase for its own account investment securities under such limitations and restrictions as the Comptroller of the Currency may by regulation prescribe. In no event shall the total amount of the investment securities of any one obligor or maker, held by the association for its own account, exceed at any time 10 per centum of its capital stock actually paid in and unimpaired and 10 per centum of its unimpaired surplus fund, except that this limitation shall not require any association to dispose of any securities lawfully held by it on August 23, 1935. As used in this section the term "investment securities" shall mean marketable obligations, evidencing indebtedness of any person, copartnership, association, or corporation in the form of bonds, notes and/or debentures commonly known as investment securities under such further definition of the term "investment securities" as may by regulation be prescribed by the Comptroller of the Currency. Except as hereinafter provided or otherwise permitted by law, nothing herein contained shall authorize the purchase by the association for its own account of any shares of stock of any corporation. The limitations and restrictions herein contained as to dealing in, underwriting and purchasing for its own account, investment securities shall not apply to obligations of the United States, or general obligations of any State or of any political subdivision thereof, or obligations of the Washington Metropolitan Area Transit Authority which are guaranteed by the Secretary of Transportation under section 9 of the National Capital Transportation Act of 1969, or obligations issued under authority of the Federal Farm Loan Act, as amended, or issued by the thirteen banks for cooperatives or any of them or the Federal Home Loan Banks, or obligations which are insured by the Secretary of Housing and Urban Development under title XI of the National Housing Act or obligations which are insured by the Secretary of Housing and Urban Development (hereinafter in this sentence re

ferred to as the "Secretary") pursuant to section 1713 of this title, if the debentures to be issued in payment of such insured obligations are guaranteed as to principal and interest by the United States, or obligations, participations, or other instruments of or issued by the Federal National Mortgage Association or the Government National Mortgage Association, or mortgages, obligations or other securities which are or ever have been sold by the Federal Home Loan Mortgage Corporation pursuant to section 1454 or section 1455 of this title, or obligations of the Federal Financing Bank or obligations of the Environmental Financing Authority, or obligations or other instruments or securities of the Student Loan Marketing Association, or such obligations of any local public agency (as defined in section 1460 (h) of Title 42) as are secured by an agreement between the local public agency and the Secretary in which the local public agency agrees to borrow from said Secretary, and said Secretary agrees to lend to said local public agency, monies in an aggregate amount which (together with any other monies irrevocably committed to the payment of interest on such obligations) will suffice to pay, when due, the interest on and all installments (including the final installment) of the principal of such obligations, which monies under the terms of said agreement are required to be used for such payments, or such obligations of a public housing agency (as defined in the United States Housing Act of 1937, as amended) as are secured (1) by an agreement between the public housing agency and the Secretary in which the public housing agency agrees to borrow from the Secretary, and the Secretary agrees to lend to the public housing agency, prior to the maturity of such obligations, monies in an amount which (together with any other monies irrevocably committed to the payment of interest on such obligations) will suffice to pay the principal of such obligations with interest to maturity thereon, which monies under the terms of said agreement are required to be used for the purpose of paying the principal of and the interest on such obligations at their maturity, (2) by a pledge of annual contributions under an annual contributions contract between such public housing agency and the Secretary if such contract shall contain the covenant by the Secretary which is authorized by section 1437d (g) of Title 42, and if the maximum sum and the maximum period specified in such contract pursuant to section 1437d (g) of Title 42 shall not be less than the annual amount and the period for payment which are requisite to provide for the payment when due of all installments of principal and interest on such obligations, or (3) by a pledge of both annual contributions under an annual contributions contract containing the covenant by the Secretary which is authorized by section 1437d (g) of Title 42, and a loan under an agreement between the local public housing agency and the Secretary in which the public housing agency agrees to borrow from the Secretary, and the Secretary agrees to lend to the public housing agency, prior to the maturity of the obligations involved, moneys in an amount which (together with any other moneys irrevocably committed under

the annual contributions contract to the payment of principal and interest on such obligations) will suffice to provide for the payment when due of all installments of principal and interest on such obligations, which moneys under the terms of the agreement are required to be used for the purpose of paying the principal and interest on such obligations at their maturity: Provided, That in carrying on the business commonly known as the safe-deposit business the association shall not invest in the capital stock of a corporation organized under the law of any State to conduct a safe-deposit business in an amount in excess of 15 per centum of the capital stock of the association actually paid in an unimpaired and 15 per centum of its unimpaired surplus. The limitations and restrictions herein contained as to dealing in and underwriting investment securities shall not apply to obligations issued by the International Bank for Reconstruction and Development, the Inter-American Development Bank or the Asian Development Bank, or obligations issued by any State or political subdivision or any agency of a State or political subdivision for housing, university, or dormitory purposes, which are at the time eligible for purchases by a national bank for its own account, nor to bonds, notes and other obligations issued by the Tennessee Valley Authority or by the United States Postal Service: Provided, That no association shall hold obligations issued by any of said organizations as a result of underwriting, dealing, or purchasing for its own account (and for this purpose obligations as to which it is under commitment shall be deemed to be held by it) in a total amount exceeding at any one time 10 per centum of its capital stock actually paid in and unimpaired and 10 per centum of its unimpaired surplus fund. Notwithstanding any other provision in this paragraph, the association may purchase for its own account shares of stock issued by a corporation authorized to be created pursuant to sections 3931 to 3941 of Title 42, and may make investments in a partnership, or joint venture formed pursuant to section 3937(a) or 3937 (c) of Title 42. Notwithstanding any other provision of this paragraph, the association may purchase for its own account shares of stock issued by any State housing corporation incorporated in the State in which the association is located and may make investments in loans and commitments for loans to any such corporation: Provided, That in no event shall the total amount of such stock held for its own account and such investments in loans and commitments made by the association exceed at any time 5 per centum of its capital stock actually paid in and unimpaired plus 5 per centum of its unimpaired surplus fund. Notwithstanding any other provision in this paragraph, the association may purchase for its own account shares of stock issued by a corporation organized solely for the purpose of making loans to farmers and ranchers for agricultural purposes, including the breeding, raising, fattening, or marketing of livestock. However, unless the association owns at least 80 per centum of the stock of such agricultural credit corporation the amount invested by the association at any one time in the stock of

such corporation shall not exceed 20 per centum of the unimpaired capital and surplus of the association.

(As amended June 23, 1972, Pub. L. 92-318, title I, § 133 (c) (1), 86 Stat. 269; Dec. 9, 1969, Pub. L. 91-143, § 12(b), as added July 13, 1972, Pub. L. 92-349, title I, § 101, 86 Stat. 466; Oct. 18, 1972, Pub. L. 92-500, § 12(n), 86 Stat. 902; Aug. 16, 1973, Pub. L. 93–100, § 5(c), 87 Stat. 344; Dec. 29, 1973, Pub. L. 93-224, § 14, 87 Stat. 941; Dec. 31, 1973, Pub. L. 93–234, title II, § 207, 87 Stat. 984; Aug. 22, 1974, Pub. L. 93-383, title II, § 206, title VIII, § 805(c) (1), 88 Stat. 668, 726.)

REFERENCES IN TEXT

Section 9 of the National Capital Transportation Act of 1969, referred to in par. 7, is set out as section 1-1446 of D.C. Code.

AMENDMENTS

1974 Par. (7). Pub. L. 93-383 substituted "1437d (g)" for "1421a(b)" wherever appearing therein, struck out "either" preceding "(1)", "(which obligations shall have a maturity of not more than eighteen months)" in cl. (1) and "or" preceding "(2)", added cl. (3), and added reference to mortgages, obligations, or other securities sold by the Federal Home Loan Mortgage Corporation pursuant to section 1454 or 1455 of this title.

1973-Par. (7). Pub. L. 93-234 authorized investments by national banks in agricultural credit corporations. Pub. L. 93-224 inserted "or obligations of the Federal Financing Bank" following "or obligations, participations, or other instruments of or issued by the Federal National Mortgage Association or the Government National Mortgage Association.

Pub. L. 93-100 added provision that the association may purchase shares of stock issued by state housing corporations incorporated in the state in which the association is located and make investments in loans and commitments for loans to such corporations with certain limitations.

1972-Par. (7). Pub. L. 92-500 inserted "or obligations of the Environmental Financing Authority" following "Government National Mortgage Association".

Pub. L. 92-349 inserted provisions that the limitations and restrictions contained in this section as to dealing in and underwriting investment securities shall not apply to obligations of the Washington Metropolitan Area Transit Authority which are guaranteed by the Secretary of Transportation under section 9 of the National Capital Transportation Act of 1969.

Pub. L. 92-318 included obligations or other instruments or securities of the Student Loan Marketing Association.

EFFECTIVE DATE OF 1973 AMENDMENTS Amendment by Pub. L. 93-224 effective on December 29, 1973, see section 20 of Pub. L. 93-224, set out as a note under section 2281 of this title.

Amendment by Pub. L. 93-100 effective Aug. 16, 1973, see section 8 of Pub. L. 93-100, set out as a note under section 1469 of this title.

CROSS REFERENCES

Definition of State and State housing corporation, see section 1470 of this title.

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 335, 371c, 378, 1733, 1841, 1843, of this title; title 22 sections 8831, 886k-1, 886k-2.

SECTION REFERRED TO IN D.C. CODE

This section is referred to in sections 1-1449, 47-253 of the District of Columbia Code.

§ 25a. Participation by national banks in lotteries and related activities.

STATUTES AT LARGE

R.S. 5136A, as added Pub. L. 90-203, § 1(a), Dec. 15, 1957, 81 Stat. 608, cited to the credit, should be R.S.

§ 5136A, as added Pub. L. 90-203, § 1(a), Dec. 15, 1967, 81 Stat. 608.

§ 42. Territorial application.

CODIFICATION

Section is also set out in D.C. Code, § 47-1710.

REGULATION OF THE BANKING BUSINESS; POWERS AND DUTIES OF NATIONAL BANKS

§ 82. Limit on indebtedness incurred by bank.

No national banking association shall at any time be indebted, or in any way liable, to an amount exceeding the amount of its capital stock at such time actually paid in and remaining undiminished by losses or otherwise, plus 50 percent of the amount of its unimpaired surplus fund, except on account of demands of the nature following:

Twelfth. Liabilities incurred in borowing1 from the Export-Import Bank of the United States. (As amended Jan. 4, 1975, Pub. L. 93-646, § 11, 88 Stat. 2337.)

AMENDMENTS

1975-Par. Twelfth. Pub. L. 93-646 added par. Twelfth. SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 412 of this title; title 50 section 98e.

§ 84. Limit of liability of any person to bank.

The total obligations to any national banking association of any person, copartnership, association, or corporation shall at no time exceed 10 per centum of the amount of the capital stock of such association actually paid in and unimpaired and 10 per centum of its unimpaired surplus fund. The term “obligations” shall mean the direct liability of the maker or acceptor of paper discounted with or sold to such association and the liability of the indorser, drawer, or guarantor who obtains a loan from or discounts paper with or sells paper under his guaranty to such association and shall include in the case of obligations of a copartnership or association the obligations of the several members thereof and shall include in the case of obligations of a corporation all obligations of all subsidiaries thereof in which such corporation owns or controls a majority interest. Such limitation of 10 per centum shall be subject to the following exceptions:

(14) Obligations of the Student Loan Marketing Association shall not be subject to any limitation based upon such capital and surplus. (As amended June 23, 1972, Pub. L. 92-318, title I, § 133(c) (2), 86 Stat. 270.)

AMENDMENTS

1972-Par. (14). Pub. L. 92-318 added par. (14).

§ 85. Rate of interest on loans, discounts and purchases.

Any association may take, receive, reserve, and charge on any loan or discount made, or upon any notes, bills of exchange, or other evidences of debt, interest at the rate allowed by the laws of the State, Territory, or District where the bank is located, or at a rate of 1 per centum in excess of the discount rate on ninety-day commercial paper in effect at

1 So in original.

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