12 C.F.R. § 925.21 Issuance and form of stock.
Title 12 - Banks and Banking
(a) A Bank shall issue to each new member, as of the effective date of membership, stock in the member's name for the amount of stock purchased and paid for in full. (b) If the member purchases stock in installments, the stock shall be issued in installments with the appropriate number of shares issued after each payment is made. (c) Stock may be issued in certificated or uncertificated form at the discretion of the Bank. (d) A Bank may convert all outstanding certificated stock to uncertificated form at its discretion.
Title 12: Banks and Banking
PART 925—MEMBERS OF THE BANKS
Subpart D—Stock Requirements
§ 925.21 Issuance and form of stock.
