12 U.S.C. § 613 — Signing of articles of association; forwarding to and filing by Board of Governors of the Federal Reserve System; organization certificate; contents

submitted 113 years ago by ch. 6 to r/title-12-BANKS-AND-BANKING · 216 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section addresses signing of articles of association; forwarding to and filing by board of governors of the federal reserve system; organization certificate; contents. It sets the duties, permissions, limits, procedures, or definitions stated in the section.

Articles of association described in section 612 of this title must be signed by all of the people intending to participate in the organization of the corporation and, after that, must be forwarded to the Board of Governors of the Federal Reserve System and must be filed and preserved in its office. The people signing the that articles of association must, under their hands, make an organization certificate which must specifically state: First. The name assumed by such corporation, which must be subject to the approval of the Board of Governors of the Federal Reserve System. Second. The place or places where its operations are to be carried on. Third. The place in the United States where its home office is to be located. Fourth. The amount of its capital stock and the number of shares into which the same must be divided. Fifth. The names and places of business or residence of the people executing the certificate and the number of shares to which each has subscribed. Sixth. The fact that the certificate is made to enable the people subscribing the same, and all other people, firms, companies, and corporations, who or which may after that subscribe to or purchase shares of the capital stock of such corporation, to avail themselves of the advantages of this subchapter.

the actual law source: uscode.house.gov ↗public domain

Articles of association described in section 612 of this title shall be signed by all of the persons intending to participate in the organization of the corporation and, thereafter, shall be forwarded to the Board of Governors of the Federal Reserve System and shall be filed and preserved in its office. The persons signing the said articles of association shall, under their hands, make an organization certificate which shall specifically state:

First. The name assumed by such corporation, which shall be subject to the approval of the Board of Governors of the Federal Reserve System.

Second. The place or places where its operations are to be carried on.

Third. The place in the United States where its home office is to be located.

Fourth. The amount of its capital stock and the number of shares into which the same shall be divided.

Fifth. The names and places of business or residence of the persons executing the certificate and the number of shares to which each has subscribed.

Sixth. The fact that the certificate is made to enable the persons subscribing the same, and all other persons, firms, companies, and corporations, who or which may thereafter subscribe to or purchase shares of the capital stock of such corporation, to avail themselves of the advantages of this subchapter.

Source credit: (Dec. 23, 1913, ch. 6, § 25A (pars.), formerly § 25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; amended Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704; renumbered § 25A, Pub. L. 102–242, title I, § 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)

history & why it existsrecord from the source credit

1913Enacted · Act of Dec. 23, 1913, ch. 6 · 41 Stat. 378
1935Amended · Act of Aug. 23, 1935, ch. 614 · 49 Stat. 704
1991Amended · Pub. L. 102-242 · 105 Stat. 2281

A history note hasn’t been published yet. The record shows enactment by ch. 6 on 1913-12-23.

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