All of the capital stock of every national banking association shall be paid in before it shall be authorized to commence business.
Pub. L. 86–230, § 473 Stat. 457(R.S. § 5140; , , .)
Editorial Notes
Codification
act June 3, 1864, ch. 106, § 1413 Stat. 103section 38 of this titleR.S. § 5140 derived from , , which was the National Bank Act. See .
Amendments
Pub. L. 86–2301959— substituted requirement that all the capital stock of a national bank must be paid in before it commences business for permissive authority to be open for business upon payment of 50 per centum of the capital stock and installment payment of the remaining 50 per centum.