§ 53. When capital stock paid in

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. undated

   R.S. § 5140

   Enacted · 12 U.S.C. § 53

   R.S. § 5140

   Unresolved: No Public Law or Statutes at Large citation in the Code source.

   Source evidence

   Code source credit
   R.S. § 5140

2. 1959

   Pub. L. 86–230 § 4 · 73 Stat. 457

   Substituted · 12 U.S.C. § 53

   Pub. L. 86–230 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

   Source evidence

   Code amendment note
   Pub. L. 86–230 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.

   Enacted provision · exact public law section
   Sec. 4. Section 514(1 of the Revised Statutes (12 U.S.C. 53) is amended to read as follows: “Sec. 5140. All of the capital stock of every national banking assocation shall be paid in before it shall be authorized to commence business.”

1 of 2 references resolved to an enrolled provision · 1 unresolved