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12 U.S.C. § 281 — Capital
submitted 113 years ago by ch. 6 to r/title-12-BANKS-AND-BANKING · 14 words · no verdicts yet
in plain englishAI-generated · not legal advice
A Federal Reserve bank needs at least $4,000,000 in subscribed capital before it can start business. This is the minimum amount required.
A Federal Reserve bank cannot start doing business unless it has at least $4,000,000 in subscribed capital.
the actual law source: uscode.house.gov ↗public domain
No Federal reserve bank shall commence business with a subscribed capital less than $4,000,000.
Source credit: (Dec. 23, 1913, ch. 6, § 2 (part), 38 Stat. 253.)
history & why it existsrecord from the source credit
- 1913Enacted · Act of Dec. 23, 1913, ch. 6 · 38 Stat. 253
A history note hasn’t been published yet. The record shows enactment by ch. 6 on 1913-12-23.
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