12 U.S.C.
United States Code, 2020 Edition
Title 12 - BANKS AND BANKING
CHAPTER 2 - NATIONAL BANKS
Table Of Contents
From the U.S. Government Publishing Office, www.gpo.gov

SUBCHAPTER I—ORGANIZATION AND GENERAL PROVISIONS

Sec.
21.
Formation of national banking associations; incorporators; articles of association.
21a.
Amendment of articles of association.
22.
Organization certificate.
23.
Acknowledgment and filing of certificate.
24.
Corporate powers of associations.
24a.
Financial subsidiaries of national banks.
25.
Omitted.
25a.
Participation by national banks in lotteries and related activities.
25b.
State law preemption standards for national banks and subsidiaries clarified.
26.
Comptroller to determine if association can commence business.
27.
Certificate of authority to commence banking.
28.
Repealed.
29.
Power to hold real property.
30.
Change of name or location.
31.
Rights and liabilities as affected by change of name.
32.
Liabilities and suits as affected by change of name or location.
33 to 34c.
Transferred.
35.
Organization of State banks as national banking associations.
36.
Branch banks.
37.
Associations governed by chapter.
38.
The National Bank Act.
39.
Reservation of rights of associations organized under Act of 1863.
40.
Virgin Islands; extension of National Bank Act.
41.
Guam; extension of National Bank Act.
42.
Territorial application.
43.
Interpretations concerning preemption of certain State laws.

        

SUBCHAPTER II—CAPITAL, STOCK, AND STOCKHOLDERS

51.
Repealed.
51a.
Preferred stock; issuance authorized.
51b.
Dividends, voting, and retirement of preferred stock; individual liability.
51b–1.
Consideration of preferred stock in determining impairment of capital; dividends; retirement.
51c.
"Common stock", "capital", and "capital stock" defined.
51d to 51f. Repealed.
52.
Par value and incidents of stock; transfer of shares.
53.
When capital stock paid in.
54.
Repealed.
55.
Enforcing payment of deficiency in capital stock; assessments; liquidation; receivership.
56.
Prohibition on withdrawal of capital; unearned dividends.
57.
Increase of capital by provision in articles of association.
58.
Repealed.
59.
Reduction of capital.
60.
National bank dividends.
61.
Shareholders' voting rights; cumulative and distributive voting; preferred stock; trust shares; proxies, liability restrictions; percentage requirement exclusion of trust shares.
62.
List of shareholders.
63, 64.
Repealed.
64a.
Individual liability of shareholders; limitation on liability.
65.
Repealed.
66.
Personal liability of representatives of stockholders.
67.
Individual liability of shareholders; compromises; authority of receiver.

        

SUBCHAPTER III—DIRECTORS

71.
Election.
71a.
Number of directors; penalties.
72.
Qualifications.
73.
Oath.
74.
Vacancies.
75.
Legal holiday, annual meeting on; proceedings where no election held on proper day.
76.
President of bank as member of board; chairman of board.
77, 78.
Repealed.

        

SUBCHAPTER IV—REGULATION OF THE BANKING BUSINESS; POWERS AND DUTIES OF NATIONAL BANKS

81.
Place of business.
82.
Repealed.
83.
Loans by bank on its own stock.
84.
Lending limits.
85.
Rate of interest on loans, discounts and purchases.
86.
Usurious interest; penalty for taking; limitations.
86a to 89.
Omitted or Repealed.
90.
Depositaries of public moneys and financial agents of Government.
91.
Transfers by bank and other acts in contemplation of insolvency.
92.
Acting as insurance agent or broker.
92a.
Trust powers.
93.
Violation of provisions of chapter.
93a.
Authority to prescribe rules and regulations.
94.
Venue of suits.
94a.
Repealed.
95.
Emergency limitations and restrictions on business of members of Federal reserve system; designation of legal holiday for national banking associations; exceptions; "State" defined.
95a, 95b.
Omitted.

        

SUBCHAPTER V—OBTAINING AND ISSUING CIRCULATING NOTES

101 to 110. Repealed.

        

SUBCHAPTER VI—REDEMPTION AND REPLACEMENT OF CIRCULATING NOTES

121.
Repealed.
121a.
Redemption of notes unidentifiable as to bank of issue.
122 to 127. Repealed.

        

SUBCHAPTER VII—PROCEEDINGS ON FAILURE OF BANK TO REDEEM CIRCULATING NOTES

131 to 138. Repealed.

        

SUBCHAPTER VIII—RESERVE CITIES; LAWFUL RESERVES

141.
Omitted.
142.
Banks in reserve cities; reserves.
143.
Banks in Alaska and insular possessions; lawful money reserves.
144.
Certain balances counted toward reserves in dependencies and insular possessions.
145, 146.
Repealed.

        

SUBCHAPTER IX—FORMATION OF ASSOCIATIONS TO ISSUE GOLD NOTES

151 to 153. Repealed.

        

SUBCHAPTER X—BANK EXAMINATIONS; REPORTS

161.
Reports to Comptroller of the Currency.
162, 163.
Repealed.
164.
Penalty for failure to make reports.
165.
Omitted.

        

SUBCHAPTER XI—MISCELLANEOUS PROVISIONS REGARDING UNITED STATES BONDS IN RELATION TO NATIONAL BANKS

168 to 177. Repealed.
177a.
Funds available for cost of transporting and redeeming national and Federal Reserve bank notes.
178.
Repealed.

        

SUBCHAPTER XII—VOLUNTARY DISSOLUTION

181.
Voluntary dissolution; appointment and removal of liquidating agent or committee; examination.
182.
Notice of intent to dissolve.
183 to 186. Repealed.

        

SUBCHAPTER XIII—RECEIVERSHIP

191.
Appointment of receiver for a national bank.
192.
Default in payment of circulating notes.
193.
Notice to present claims.
194.
Dividends on adjusted claims; distribution of assets.
195.
Repealed.
196.
Expenses.
197.
Shareholders' meeting; continuance of receivership; appointment of agent; winding up business; distribution of assets.
197a.
Resumption of business by closed bank on consent of depositors.
198.
Purchase by receiver of property of bank; request to Comptroller.
199.
Approval of request.
200.
Payment.

        

SUBCHAPTER XIV—BANK CONSERVATION ACT

201.
Short title.
202.
Definitions.
203.
Appointment of conservator.
204.
Examinations.
205.
Termination of conservatorship.
206.
Conservator; powers and duties.
207, 208.
Repealed.
209.
Liability protection.
210.
Governmental powers unimpaired.
211.
Rules and regulations.
212.
Right to amend; separability.
213.
Transferred.

        

SUBCHAPTER XV—CONVERSION OF NATIONAL BANKS INTO STATE BANKS

214.
Definitions.
214a.
Procedure for conversion, merger, or consolidation; vote of stockholders.
214b.
Continuation of business and corporate entity.
214c.
Conversions in contravention of State law.
214d.
Prohibition on conversion.

        

SUBCHAPTER XVI—CONSOLIDATION AND MERGER

215.
Consolidation of banks within same State.
215a.
Merger of national banks or State banks into national banks.
215a–1.
Interstate consolidations and mergers.
215a–2.
Expedited procedures for certain reorganizations.
215a–3.
Mergers and consolidations with subsidiaries and nonbank affiliates.
215b.
Definitions.
215c.
Mergers, consolidations, and other acquisitions authorized.

        

SUBCHAPTER XVII—DISPOSITION OF UNCLAIMED PROPERTY RECOVERED FROM CLOSED NATIONAL BANKS

216.
Purpose.
216a.
Definitions.
216b.
Disposition of unclaimed property.
216c.
Rules and regulations.
216d.
Severability.