12 USC 621 - Liability of Shareholders on Unpaid Subscriptions; Membership of Corporation in Federal Reserve Bank Prohibited

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.

(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.)

Sections:  Previous  614  615  616  617  618  619  620  621  622  623  624  625  626  627  628  Next

Last modified: October 26, 2015