The shareholders of every Federal reserve bank shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such bank to the extent of the amount of their subscriptions to such stock at the par value thereof in addition to the amount subscribed, whether such subscriptions have been paid up in whole or in part under the provisions of this chapter.
Dec. 23, 1913, ch. 6, § 238 Stat. 252( (par.), .)
Editorial Notes
References in Text
act Dec. 23, 1913, ch. 638 Stat. 251section 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
section 222 of this titleSection is comprised of the fourth par. of section 2 of act . For classification of other pars. of section 2 of this Act, see Codification note set out under .