If the Labor Bank shall refuse to submit its books, papers and matters to the inspection of any examiner duly appointed by the Secretary of the Treasury, or if it should appear that the Bank has violated its charter or any law concerning it, the Secretary of the Treasury shall proceed to declare the liquidation and dissolution of the Labor Bank and shall appoint a receiver to carry out such liquidation or dissolution.
History —June 14, 1960, No. 86, p. 162, § 21.