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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 621 Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited us united_states_code code_section 12 BANKS AND BANKING 6 FOREIGN BANKING 621 12 U.S.C. § 621 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/s621 data/legal/raw/us/code/title-12/usc12.xml 559e5c71916e65252a13c631f8ee83a9d170b1cc47344e9f467f9f77db1da4b1 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 8a55e6e409432d0b5cb684ef2daae95ae3bcaa626fd8901a62c5337dcacef67c 2026-07-04 official
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12 U.S.C. § 621 - Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited

Text

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. 102242, title I, § 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)

Notes

Editorial Notes

References in TextThis 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.