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.
Dec. 23, 1913, ch. 6, § 9 38 Stat. 259 June 21, 1917, ch. 32, § 3 40 Stat. 233 Aug. 23, 1935, ch. 614 49 Stat. 704 ( (par.), ; , ; , title II, § 203(a), .)
Editorial Notes
References in Text
act Dec. 23, 1913, ch. 6 38 Stat. 251 section 226 of this titleThis chapter, referred to in text, was in the original “this Act”, meaning , , known as the Federal Reserve Act. For complete classification of this Act to the Code, see References in Text note set out under and Tables.
Codification
40 Stat. 232 44 Stat. 1229 64 Stat. 458 section 321 of this titleSection is comprised of the fifth par. of section 9 of act , as amended. The fifth par. constituted the third par. of section 9 in 1917 (), became the fourth par. in 1927 (), and became the fifth par. in 1950 (). For further details, see Codification note set out under .
Statutory Notes and Related Subsidiaries
Change of Name
Section 203(a) of act , changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.