US Code

Public Law 119-102 (07/12/2026)

12 U.S.C. § 621

Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited

Section text and notes

Shareholders in any corporation organized under the provisions of this subchapter shall be liable for the amount of their unpaid stock subscriptions. No such corporation shall become a member of any Federal reserve bank.

Dec. 23, 1913, ch. 6, § 25A Dec. 24, 1919, ch. 18 41 Stat. 378 Pub. L. 102–242, title I, § 142(e)(2)105 Stat. 2281 ( (par.), formerly § 25(a), as added , ; renumbered § 25A, , , .)

Editorial Notes

References in Text

This subchapter, referred to in text, was in the original “this section”, meaning section 25A of act , which is classified to this subchapter (§ 611 et seq.).

Codification

section 611 of this titleSection is comprised of par. 13 (undesignated) of section 25A of act , which comprises this subchapter. For complete classification of section 25A of this Act, see Codification note set out under .