To Eliminate the Abuses of the State-Chartered Banks,the ________ Created

question 104

Multiple Choice

To eliminate the abuses of the state-chartered banks,the ________ created a new banking system of federally chartered banks,supervised by the ________.

• A)National Bank Act of 1863;Office of the Comptroller of the Currency
• B)Federal Reserve Act of 1863;Office of the Comptroller of the Currency
• C)National Bank Act of 1863;Office of Thrift Supervision
• D)Federal Reserve Act of 1863;Office of Thrift Supervision

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Definitions:

Domestic Corporation

A corporation that is registered and operates in the same country in which it was incorporated, adhering to the legal and regulatory standards of that country.

Incorporated

Refers to the process of legally declaring a business as a separate legal entity, distinct from its owners, with rights to own property and sue or be sued.

Creature of the State

An entity that is created by and subject to state law, often used to describe municipalities or corporations.

Incorporation Statute

An Incorporation Statute is a law that outlines the process, requirements, and legal implications of forming a corporation.