§ 283. — Public subscription to capital stock.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC283]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER VI--CAPITAL AND STOCK OF FEDERAL RESERVE BANKS; DIVIDENDS AND
EARNINGS
Sec. 283. Public subscription to capital stock
No individual, copartnership, or corporation other than a member
bank of its district shall be permitted to subscribe for or to hold at
any time more than $25,000 par value of stock in any Federal reserve
bank. Such stock shall be known as public stock and may be transferred
on the books of the Federal reserve bank by the chairman of the board of
directors of such bank.
(Dec. 23, 1913, ch. 6, Sec. 2, 38 Stat. 253.)
Section Referred to in Other Sections
This section is referred to in section 481 of this title.
