12 U.S.C. § 282
Subscription to capital stock by national banking association
Every national banking association within each Federal reserve district shall be required to subscribe to the capital stock of the Federal reserve bank for that district in a sum equal to six per centum of the paid-up capital stock and surplus of such bank, one-sixth of the subscription to be payable on call of the Board of Governors of the Federal Reserve System, one-sixth within three months and one-sixth within six months thereafter, and the remainder of the subscription, or any part thereof, shall be subject to call when deemed necessary by the Board, said payments to be in gold or gold certificates.
Notes of Decisions
Cited in 7
cases, 1940–2019 · leading case: United States v. Wells Fargo
United States v. Wells Fargo (2019)
“See 12 U.S.C. § 282 ; Joint App’x at 1179‐80.”
Luevano v. Campbell (1981)
“See generally 12 U.S.C. §§ 282 , 323, 341. Counsel for the government further represent that the regional Federal Reserve Banks have never in the past used the PACE in their hiring or promotions, and have no intention of doing so in the future.”
Kennedy C. Scott v. Federal Reserve Bank of Kansas City (2005)
“See 12 U.S.C. §§ 282 , 287, and 341. The United States does not own stock in the Bank.”
Reuss v. Balles (1976)
“National banks must be members of the System, 12 U.S.C. § 282 ; state-chartered banks may belong.”
Cossack v. Swope (1940)
“12 U.S.C.A. § 282 . For instance, in the case of Shaw v.”
American Bankers Association v. United States (2017)
“See 12 U.S.C. § 282 (2012). As a result, Washington Federal assumed a “double liability,” i.”
Kennedy C. Scott v. Federal Reserve Bank (2005)
“See 12 U.S.C. §§ 282 , 287, and 341. The United States does not own -3- stock in the Bank.”
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