1999 US Code
Title 12 - BANKS AND BANKING
CHAPTER 3 - FEDERAL RESERVE SYSTEM
SUBCHAPTER XVI - CIVIL LIABILITY OF FEDERAL RESERVE AND MEMBER BANKS, SHAREHOLDERS, AND OFFICERS
Sec. 502 - Liability of shareholders of Federal reserve banks on contracts, etc.
View Metadata| Publication Title | United States Code, 1994 Edition, Supplement 5, Title 12 - BANKS AND BANKING |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 12 - BANKS AND BANKING CHAPTER 3 - FEDERAL RESERVE SYSTEM SUBCHAPTER XVI - CIVIL LIABILITY OF FEDERAL RESERVE AND MEMBER BANKS, SHAREHOLDERS, AND OFFICERS Sec. 502 - Liability of shareholders of Federal reserve banks on contracts, etc. |
| Contains | section 502 |
| Date | 1999 |
| Laws in Effect as of Date | January 23, 2000 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Dec. 23, 1913, ch. 6, §2, 38 Stat. 252. |
| Statutes at Large Reference | 38 Stat. 252 |
§502. Liability of shareholders of Federal reserve banks on contracts, etc.
The shareholders of every Federal reserve bank shall be held individually responsible equally and ratably, and not one for another, for all contracts, debts, and engagements of such bank to the extent of the amount of their subscriptions to such stock at the par value thereof in addition to the amount subscribed, whether such subscriptions have been paid up in whole or in part under the provisions of this chapter.
(Dec. 23, 1913, ch. 6, §2, 38 Stat. 252.)
Section Referred to in Other SectionsThis section is referred to in section 481 of this title.
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