12-U.S.C.-621
§621 – Liability of Shareholders On Unpaid Subscriptions; Membership of Corporation In Federal Reserve Bank Prohibited
Pathway
Title 12 > Chapter 6 > Subchapter II > Section 621
Details
- Reference: Section 621
- Legend: §621 – Liability of Shareholders On Unpaid Subscriptions; Membership of Corporation In Federal Reserve Bank Prohibited
- USCode Year: 2013
Provision Content
Shareholders in any corporation organized under the provisions of this subchapter shall be liable for the amount of their unpaid stock subscriptions. No such corporation shall become a member of any Federal reserve bank.
(Dec. 23, 1913, ch. 6, §25A (par.), formerly §25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; renumbered §25A, Pub. L. 102–242, title I, §142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)
References in Text
This subchapter, referred to in text, was in the original this section, meaning section 25A of act Dec. 23, 1913, which is classified to this subchapter (§611 et seq.).
Codification
Section is comprised of par. 13 (undesignated) of section 25A of act Dec. 23, 1913, which comprises this subchapter. For complete classification of section 25A of this Act, see Codification note set out under section 611 of this title.
U.S. Encyclopedia of Law Coverage
12-U.S.C.-602 in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-602, 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.
Title 12 – Banks And Banking in the Legal Encyclopedia: Foreign Banking
In this entry about Title 12 – Banks And Banking, find legal reference material, bibliographies and premiere content related to foreign banking in the American Encyclopedia of Law, presenting a comprehensive view of the United States foreign banking-specific issues, written by authorities in the field.
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