12 U.S.C. § 194
Section 194 · Dividends on adjusted claims; distribution of assets
Amended 1 time on record
Applied in 94 court decisions — leading case Beighley v. Federal Deposit Insurance (1989)
Most recently applied in 849 F. Supp. 2d 736 - Clark v. Federal Deposit Insurance (July 2011)
How often courts cite this section
Court decisions citing this, by year.Markers show enactment and consequential amendments — watch for a citation surge after a change. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
From time to time, the comptroller shall make a ratable dividend of the money so paid over to him by such receiver on all such claims as may have been proved to his satisfaction or adjudicated in a court of competent jurisdiction, and, as the proceeds of the assets of such association are paid over to him, shall make further dividends on all claims previously proved or adjudicated; and the remainder of the proceeds, if any, shall be paid over to the shareholders of such association, or their legal representatives, in proportion to the stock by them respectively held.
Editorial notes U.S. Code · Office of the Law Revision Counsel
Codification
R.S. §5236 derived from act June 3, 1864, ch. 106, §50, 13 Stat. 114, which was the National Bank Act. See section 38 of this title.
Amendments
1994—Pub. L. 103–325 struck out “, after full provision has been first made for refunding to the United States any deficiency in redeeming the notes of such association” after “From time to time”.
Exception as to Transfer of Functions
Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title.
Application to District of Columbia
Provisions of this section were made applicable to banks, etc. in the District of Columbia by act Mar. 4, 1933, ch. 274, §4, 47 Stat. 1567 (D.C. Code, §26–104).
Cross References
Preferential rights of preferred stock on liquidation, see section 51b of this title.