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Title 12 — Banks and Banking

Chapter 3 — Federal Reserve System

§ 323. Stock in Federal reserve banks; method of payment

Statutory text

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.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

  1. Pub. L. 63–6 § 9 · 38 Stat. 103

    Enacted · 12 U.S.C. § 323

    Dec. 23, 1913, ch. 6, § 9 (par.), 38 Stat. 259

    Source evidence

    Code source credit
    Dec. 23, 1913, ch. 6, § 9 (par.), 38 Stat. 259

    Enacted provision · exact public law section
    Sec. 9. That whenever receivers appointed by a Federal court Rights of employees under Federal court receivers. are in the possession and control of the business of employers covered by this Act the employees of such employers shall have the right to be heard through their representatives in such court upon all questions affecting the terms and conditions of their employment; and Restriction on reducing wages. no reduction of wages shall be made by such receivers without the authority of the court therefor, after notice to such employees, said notice to be given not less than twenty days before the hearing upon the receivers’ petition or application, and to be posted upon all customary bulletin boards along or upon the railway or in the customary places on the premises of other employers covered by this Act.

1 of 1 references resolved to an enrolled provision

Editorial Notes

References in Text

This chapter, referred to in text, was in the original “this Act”, meaning act Dec. 23, 1913, ch. 6, 38 Stat. 251, known as the Federal Reserve Act. For complete classification of this Act to the Code, see References in Text note set out under section 226 of this title and Tables.

Codification

Section 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 (40 Stat. 232), became the fourth par. in 1927 (44 Stat. 1229), and became the fifth par. in 1950 (64 Stat. 458). For further details, see Codification note set out under section 321 of this title.

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.

Credits

1913–1935 · 3 acts
  1. 1913Dec. 23, 1913, ch. 6, § 9 (par.), 38 Stat. 259
  2. 1917June 21, 1917, ch. 32, § 3, 40 Stat. 233
  3. 1935Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.
Show as published

(Dec. 23, 1913, ch. 6, § 9 (par.), 38 Stat. 259; June 21, 1917, ch. 32, § 3, 40 Stat. 233; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)

Parsed from the official OLRC USLM XML in data/usc_all/usc12.xml · release point 119-108 · OLRC build 2026-07-23

USLM identifier /us/usc/t12/s323