Highlight any text to annotate

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, § 2 (par.), 38 Stat. 252.) Editorial Notes References in TextThis 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 fourth par. of section 2 of act Dec. 23, 1913. For classification of other pars. of section 2 of this Act, see Codification note set out under section 222 of this title.

Add a comment

Sign in to comment on this section.

Annotate the text

Highlight any passage on the Full Text tab to attach a note. Annotations appear on the Annotations tab.