12 U.S.C. § 621 — Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited
submitted 113 years ago by ch. 6 to r/title-12-BANKS-AND-BANKING · 34 words · no verdicts yet
This section sets rules about liability of shareholders on unpaid subscriptions. Shareholders in any corporation organized under the provisions of this subchapter must be liable for the amount of their unpaid stock subscriptions.
Shareholders in any corporation organized under the provisions of this subchapter must be liable for the amount of their unpaid stock subscriptions. No that corporation must become a member of any Federal reserve bank.
Shareholders in any corporation organized under the provisions of this subchapter shall be liable for the amount of their unpaid stock subscriptions. No such corporation shall become a member of any Federal reserve bank.
Source credit: (Dec. 23, 1913, ch. 6, § 25A (par.), formerly § 25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; renumbered § 25A, Pub. L. 102–242, title I, § 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)
- 1913Enacted · Act of Dec. 23, 1913, ch. 6 · 41 Stat. 378
- 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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