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SB 416, 43rd R.S.

Relating to providing that the Banking Commissioner of the State of Texas, with the approval of the Governor of Texas, from and after the passage of this Act, be and he is hereby authorized and empowered to declare financial moratoriums for and invoke a uniform limitation withdrawal, coextensive with the boundaries of the State, of deposits from all State Banks, National Banks, State Banks and Trust Companies, Trust Companies, Private Banks, Building and Loan Associations, and all other banking and financial institutions in the State of Texas, or both such moratoriums and limitations of withdrawal of deposits, and to promulgate any and all orders and decrees necessary to enforce such powers herein delegated; providing penalties for violations.

Author: Welly Kennon Hopkins
Coauthor: Gus Russek | Walter Calisto Woodward

Session Law Chapter:
Acts 1933, 43rd R.S.,ch. 16, General Laws of Texas

Gubernatorial documents:

Relating to official proclamation of financial moratorium, issued by Governor March 2, 1933, until and including March 7, 1933, declaring all state and national banks and trust companies prohibited and enjoined from paying to any depositor or creditor upon any account or deposit liability any amount of money during the period of time covered by said proclamation; submitting an emergency matter to the 43rd Legislature: providing that Banking Commissioner is authorized and empowered to declare financial moratoriums for and invoke uniform limitation withdrawals of deposits . . . (SB 416)

Subjects:
Financial--Banks
Financial--Savings & Loans

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