Title 12 — Banks and BankingRelease 119-73not60
§282 Subscription to Capital Stock by National Banking Association
Title 12 › Chapter 3— FEDERAL RESERVE SYSTEM › Subchapter VI— CAPITAL AND STOCK OF FEDERAL RESERVE BANKS; DIVIDENDS AND EARNINGS › § 282
Summary
Each national bank must subscribe to 6% of its district Federal Reserve bank's paid-up capital and surplus. Payments: one-sixth on Board's call, one-sixth within three months, one-sixth within six months, remainder callable; payments in gold or gold certificates.
Full Legal Text
Title 12, §282
Banks and Banking — Source: USLM XML via OLRC
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.
Legislative History
Notes & Related Subsidiaries
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.
Reference
Citations & Metadata
Citation
12 U.S.C. § 282
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60