U.S. Code » Title 12 » Chapter CHAPTER 2— NATIONAL BANKS › Subchapter SUBCHAPTER III— DIRECTORS

12 U.S.C. § 75

Legal holiday, annual meeting on; proceedings where no election held on proper day

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When the day fixed in the bylaws for the regular annual meeting of the shareholders falls on a legal holiday in the State in which the bank is located, the shareholders meeting shall be held, and the directors elected, on the next following banking day. If, from any cause, an election of directors is not made on the day fixed, or in the event of a legal holiday, on the next following banking day, an election may be held on any subsequent day within sixty days of the day fixed, to be designated by the board of directors, or, if the directors fail to fix the day, by shareholders representing two-thirds of the shares, at least ten days’ notice thereof in all cases having been given by first-class mail to the shareholders.

Notes of Decisions
Cited in 3 cases, 1992–2004 · leading case: Wachovia Bank, National Association v. Daniel G. Schmidt III Priag LLC Dgs Investments, Inc.
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Wachovia Bank, National Association v. Daniel G. Schmidt III Priag LLC Dgs Investments, Inc. (2004) ca4 “§ 52 (requiring the capital stock certificates of a national banking association to state “the name and location of the association”); 12 U.S.C. § 75 (providing for rescheduled annual shareholders’ meetings when the meeting day “falls on a legal holiday in the State in which the…”
Idaho, Department of Finance v. Security Pacific Bank Idaho, N.A. (1992) idd · cites it 3× “In oral argument, the plaintiff pointed to 12 U.S.C. § 75 as evidence of the intent of Congress that national banks must follow state laws regarding legal holidays.”
Wachovia Bank Natl v. Schmidt (2004) ca4 “§ 52 (requiring the capital stock certificates of a national banking association to state "the name and location of the association"); 12 U.S.C. § 75 (providing for re- scheduled annual shareholders’ meetings when the meeting day "falls on a legal holiday in the State in which…”
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