FEDERAL · 12 U.S.C. · Chapter 3
Public subscription to capital stock
Current through Pub. L. 119-102
No individual, copartnership, or corporation other than a member bank of its district shall be permitted to subscribe for or to hold at any time more than $25,000 par value of stock in any Federal reserve bank. Such stock shall be known as public stock and may be transferred on the books of the Federal reserve bank by the chairman of the board of directors of such bank.
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12 U.S.C. § 283 (Public subscription to capital stock) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Lee Construction Co. v. Federal Reserve Bank of Richmond
558 F. Supp. 165 (D. Maryland, 1982)
Source Credit
History
(Dec. 23, 1913, ch. 6, §2 (par.), 38 Stat. 253.)
Editorial Notes
Editorial Notes
Codification
Section is comprised of the ninth par. of section 2 of act Dec. 23, 1913. For classification of other pars. of section 2 of this Act, see Codification note set out under section 222 of this title.
Codification
Section is comprised of the ninth par. of section 2 of act Dec. 23, 1913. For classification of other pars. of section 2 of this Act, see Codification note set out under section 222 of this title.