12 U.S.C. § 59
Reduction of capital
United States · Title 12 — BANKS AND BANKING · Status: effective
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- Citation
- 12 U.S.C. § 59, Reduction of capital, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/437110
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Full text
Subject to the approval of the Comptroller of the Currency, a national banking association may, by a vote of shareholders owning, in the aggregate, two-thirds of its capital stock, reduce its capital.
As part of its capital reduction plan approved in accordance with subsection (a), and with the affirmative vote of shareholders owning at least two thirds of the shares of each class of its stock outstanding (each voting as a class), a national banking association may distribute cash or other assets to its shareholders.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone. The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.
- Financial Services Regulatory Relief Act of 2006House: 417–0Senate: no recorded tally