Title 12, Banks and BankingRelease 119-102
§336 Certificates of Stock; Representation of Stock of Other Corporations
Title 12 › CHAPTER 3 — FEDERAL RESERVE SYSTEM › SUBCHAPTER VIII — STATE BANKS AS MEMBERS OF SYSTEM › § 336
Summary
After August 23, 1935, a stock certificate for a State member bank must not claim to represent stock in any other company, and its ownership, sale, or transfer must not be made dependent on owning stock of another company—except if that other company is a member bank or was holding the bank’s premises on June 16, 1934. However, other companies may make their own stock dependent on owning a State member bank’s stock certificate.
Full Legal Text
Title 12, §336
Banks and Banking, Source: USLM XML via OLRC
After August 23, 1935, no certificate evidencing the stock of any State member bank shall bear any statement purporting to represent the stock of any other corporation, except a member bank or a corporation engaged on June 16, 1934, in holding the bank premises of such member bank, nor shall the ownership, sale, or transfer of any certificate representing the stock of any State member bank be conditioned in any manner whatsoever upon the ownership, sale, or transfer of a certificate representing the stock of any other corporation, except a member bank or a corporation engaged on June 16, 1934 in holding the bank premises of such member bank: Provided, That this subchapter shall not operate to prevent the ownership, sale, or transfer of stock of any other corporation being conditioned upon the ownership, sale, or transfer of a certificate representing stock of a State member 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 9 of act Dec. 23, 1913, which is classified generally to this subchapter (§ 321 et seq.). Codification Section is comprised of the twenty-first par. of section 9 of act Dec. 23, 1913, as amended. The twenty-first par. constituted the nineteenth par. of section 9 in 1933 (48 Stat. 165), became the twentieth par. in 1935 (49 Stat. 704), and became the twenty-first par. in 1950 (64 Stat. 458). For further details, see Codification notes set out under section 321 and 329a of this title.
Amendments
1935—Act Aug. 23, 1935, among other changes, inserted proviso.
Reference
Citations & Metadata
Citation
12 U.S.C. § 336
Title 12, Banks and Banking
Last Updated
Aug 21, 2026
Release point: 119-102