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12 U.S.C. § 53 — When capital stock paid in
submitted 67 years ago by Pub. L. 86-230 to r/title-12-BANKS-AND-BANKING · 22 words · no verdicts yet
in plain englishAI-generated · not legal advice
Every national bank must have all of its capital stock fully paid in. This must happen before the bank can start doing business.
Every national banking association must have its entire capital stock paid in full before it is allowed to begin doing business.
the actual law source: uscode.house.gov ↗public domain
All of the capital stock of every national banking association shall be paid in before it shall be authorized to commence business.
Source credit: (R.S. § 5140; Pub. L. 86–230, § 4, Sept. 8, 1959, 73 Stat. 457.)
history & why it existsrecord from the source credit
- 1959Enacted · Pub. L. 86-230 · 73 Stat. 457
A history note hasn’t been published yet. The record shows enactment by Pub. L. 86-230 on 1959-09-08.
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