Title 12 — Banks and BankingRelease 119-73
§51c “Common stock”, “capital”, and “capital stock” defined
Title 12 › Chapter CHAPTER 2— - NATIONAL BANKS › Subchapter SUBCHAPTER II— - CAPITAL, STOCK, AND STOCKHOLDERS › § 51c
Summary
Explains meanings in sections 51a–51d and 101, 177, 178. Common stock is bank stock except preferred stock issued under those sections. Capital is unimpaired common stock plus unimpaired preferred stock outstanding. Capital stock (in 101, 177, 178) is only outstanding common stock.
Full Legal Text
Title 12, §51c
Banks and Banking — Source: USLM XML via OLRC
The term “common stock” as used in section 51a, 51b, 51c, and 51d 11 See References in Text note below. of this title means stock of national banking associations other than preferred stock issued under the provisions of said sections. The term “capital” as used in provisions of law relating to the capital of national banking associations shall mean the amount of unimpaired common stock plus the amount of preferred stock outstanding and unimpaired; and the term “capital stock”, as used in section 101, 177, and 178 1 of this title, shall mean only the amount of common stock outstanding.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
section 51d of this title, referred to in text, was repealed by act June 30, 1947, ch. 166, title II, § 206(b), (o), 61 Stat. 208. For effect of the repeal on outstanding debentures held by banks, see note under section 51b–1 of this title. section 101, 177, and 178 of this title, referred to in text, were repealed by Pub. L. 103–325, title VI, § 602(f)(2), (5), Sept. 23, 1994, 108 Stat. 2292, 2293.
Reference
Citations & Metadata
Citation
12 U.S.C. § 51c
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73