12 CFR 5.60
§ 5.60 Authority, scope, and exceptions to rules of general applicability.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 5.60, § 5.60 Authority, scope, and exceptions to rules of general applicability, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/42919
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Full text
(a) Authority. 12 U.S.C. 56, 60, and 93a.
(b) Scope. Except as otherwise provided, the restrictions in this subpart apply to the declaration and payment of all dividends by a national bank, including dividends paid in property. However, the provisions contained in § 5.64 do not apply to dividends paid in stock of the bank.
(c) Exceptions to the rules of general applicability. Sections 5.8, 5.10, and 5.11 do not apply to this subpart.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.