Title 12 — Banks and BankingRelease 119-73

§621 Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited

Title 12 › Chapter CHAPTER 6— - FOREIGN BANKING › Subchapter SUBCHAPTER II— - ORGANIZATION OF CORPORATIONS TO DO FOREIGN BANKING › § 621

Last updated Apr 6, 2026|Official source

Full Legal Text

Title 12, §621

Banks and Banking — Source: USLM XML via OLRC

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.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

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.

Reference

Citations & Metadata

Citation

12 U.S.C. § 621

Title 12 — Banks and Banking

Last Updated

Apr 6, 2026

Release point: 119-73