12 U.S.C. § 502

Liability of shareholders of Federal reserve banks on contracts, etc.

United States · Title 12 — BANKS AND BANKING · Status: effective

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Citation: 12 U.S.C. § 502, Liability of shareholders of Federal reserve banks on contracts, etc, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/437403
Permanent ID: ys:prov:437403@1
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Full text

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.

Legislative history

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