12 U.S.C. § 323
Stock in Federal reserve banks; method of payment
Whenever the Board of Governors of the Federal Reserve System shall permit the applying bank to become a stockholder in the Federal reserve bank of the district its stock subscription shall be payable on call of the Board of Governors of the Federal Reserve System, and stock issued to it shall be held subject to the provisions of this chapter.
Notes of Decisions
Cited in 1
case, 1957–1957 · leading case: The Continental Bank and Trust Company, of Salt Lake City, Utah v. Emery J. Woodall
The Continental Bank and Trust Company, of Salt Lake City, Utah v. Emery J. Woodall (1957)
“12 U.S.C.A. § 323 . The section further provides that all banks admitted to membership in the Federal Reserve System under the provisions of the section shall be required to comply with the capital and reserve requirements of the Act and to conform to those provisions of law…”
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