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2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 282 Subscription to capital stock by national banking association us united_states_code code_section 12 BANKS AND BANKING 3 FEDERAL RESERVE SYSTEM 282 12 U.S.C. § 282 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s282 data/legal/raw/us/code/title-12/usc12.xml 819eff80aed986b1f2a320d3a857c2dc3dfc20ba30957f898c205f4edf04a26a e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa d4ad6a636f068ee403db1a2129e5582e1a18f381532ef884d26ec1742adfcc23 2026-07-04 official
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12 U.S.C. § 282 - Subscription to capital stock by national banking association

Text

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.)

Notes

Editorial Notes

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.

Statutory Notes and Related Subsidiaries

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.