12 U.S.C. § 621
Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited
United States · Title 12 — BANKS AND BANKING · Status: effective
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- Citation
- 12 U.S.C. § 621, Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/437450
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Full text
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.
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 The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.
- Federal Deposit Insurance Corporation Improvement Act of 1991House: no recorded tallySenate: 68–15