12-U.S.C.-282

§282 – Subscription to Capital Stock By National Banking Association

Pathway

Title 12 > Chapter 3 > Subchapter VI > Section 282

Details

• Reference: Section 282
• Legend: §282 – Subscription to Capital Stock By National Banking Association
• USCode Year: 2013

Provision Content

Every national banking association within each Federal reserve district shall be required to subscribe to the capital stock of the Federal reserve bank for that district in a sum equal to six per centum of the paid-up capital stock and surplus of such bank, one-sixth of the subscription to be payable on call of the Board of Governors of the Federal Reserve System, one-sixth within three months and one-sixth within six months thereafter, and the remainder of the subscription, or any part thereof, shall be subject to call when deemed necessary by the Board, said payments to be in gold or gold certificates.

(Dec. 23, 1913, ch. 6, §2 (part), 38 Stat. 252; Aug. 23, 1935, ch. 614, title II, §203(a), 49 Stat. 704.)

Codification

Section is based on part of the third par. of section 2 of act Dec. 23, 1913. The rest of the third par. was not included in the Code. For classification of other pars. of section 2 of this Act, see Codification note set out under section 222 of this title.

Change of Name

Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.

U.S. Encyclopedia of Law Coverage

12-U.S.C.-348 in the Legal Encyclopedia: Banking Law

In this entry about 12-U.S.C.-348, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.

12-U.S.C.-264 in the Legal Encyclopedia: Federal Reserve System

In this entry about 12-U.S.C.-264, find legal reference material, bibliographies and premiere content related to federal reserve system in the American Encyclopedia of Law, presenting a comprehensive view of the United States federal reserve system-specific issues, written by authorities in the field.

Topic Map

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