§51c — Title 12 Banks and Banking | U.S. Code

Summary

Defines three terms for national banking associations. Common stock — a bank's stock, not the preferred stock issued under sections 51a, 51b, 51c, and 51d. Capital — unimpaired common stock plus outstanding, unimpaired preferred stock. Capital stock — in sections 101, 177, and 178, only outstanding common stock.

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.

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section 51d of this title, referred to in text, was repealed by act June 30, 1947, ch. 166, title II, § 206(b), (o), 61 Stat. 208.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 section 101, 177, and 178 of this title, referred to in text, were repealed by Pub.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.

§51c “common Stock”, “capital”, and “capital Stock” Defined

Summary

Title 12, §51c

Notes & Related Subsidiaries

Editorial Notes

References in Text

Citations & Metadata