12 U.S.C. § 52

Par value and incidents of stock; transfer of shares

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The capital stock of each association shall be divided into shares of $100 each, or into shares of such less amount as may be provided in the articles of association, and be deemed personal property, and transferable on the books of the association in such manner as may be prescribed in the by-laws or articles of association. Every person becoming a shareholder by such transfer shall, in proportion to his shares, succeed to all rights and liabilities of the prior holder of such shares; and no change shall be made in the articles of association by which the rights, remedies, or security of the existing creditors of the association shall be impaired.

Certificates issued after August 23, 1935, representing shares of stock of the association shall state (1) the name and location of the association, (2) the name of the holder of record of the stock represented thereby, (3) the number and class of shares which the certificate represents, and (4) if the association shall issue stock of more than one class, the respective rights, preferences, privileges, voting rights, powers, restrictions, limitations, and qualifications of each class of stock issued shall be stated in full or in summary upon the front or back of the certificates or shall be incorporated by a reference to the articles of association set forth on the front of the certificates. Every certificate shall be signed by the president and the cashier of the association, or by such other officers as the bylaws of the association shall provide, and shall be sealed with the seal of the association.

After August 23, 1935, no certificate evidencing the stock of any such association shall bear any statement purporting to represent the stock of any other corporation, except a member bank or a corporation engaged on June 16, 1934, in holding the bank premises of such association, nor shall the ownership, sale, or transfer of any certificate representing the stock of any such association be conditioned in any manner whatsoever upon the ownership, sale, or transfer of a certificate representing the stock of any other corporation, except a member bank or a corporation engaged on June 16, 1934 in holding the bank premises of such association: Provided, That this section shall not operate to prevent the ownership, sale, or transfer of stock of any other corporation being conditioned upon the ownership, sale, or transfer of a certificate representing stock of a national banking association.

Notes of Decisions

Cited in 6 cases, 1939–2006 · leading case: Wachovia Bank, National Ass'n v. Schmidt

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Wachovia Bank, National Ass'n v. Schmidt (2006) scotus “, 12 U. S. C. § 52 (national bank’s capital stock certificates must state “the name and location of the association”); § 55 (requiring notice of sale of capital stock “in a newspaper of the city or town in which the bank is located”); §75 (bank’s regular annual shareholders’…”

Wachovia Bank, National Association v. Daniel G. Schmidt III Priag LLC Dgs Investments, Inc. (2004) ca4 “, 12 U.S.C. § 52 (requiring the capital stock certificates of a national banking association to state “the name and location of the association”); 12 U.”

Pedersen v. Brantner (1973) moctapp · cites it 6× “Appellant relies on the terms of 12 U.S.C.A. § 52 which declares that the capital stock of every national bank shall be divided into shares of one hundred dollars each, shall be deemed personal property, and be transferable on the books of the bank in such manner as may be…”

Frank Spalitta, as Guardian of the Minors, Karen Elizabeth and Gina Theresa Spalitta v. National American Bank of New Or (1971) ca5 “” Furthermore, a conspiracy is alleged along with a continuous course of illegal conduct beginning in 1961 in violation of the National Banking Act which raises a federal question.”

Equitable Life Assur. Soc. of the United States v. Moore (1939) illinoised “Revised Statutes § 5139, 12 U.S.C.A. § 52 , which provides that the stock of a national bank shall be deemed personal property, and transferable on the books of the association in such manner as may be prescribed in the by-laws or articles of association; and that every person…”

Wachovia Bank Natl v. Schmidt (2004) ca4 “, 12 U.S.C. § 52 (requiring the capital stock certificates of a national banking association to state "the name and location of the association"); 12 U.”

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