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Bre. 25 (a) ' FEDERAL RESERVE ACT

it be less than $2,000,000. No corporation, except as
herein provided, shall during the time it shall continue
its operations withdraw or permit to be withdrawn,
either in the form of dividends or otherwise, any portion
of its capital. Any national banking association may
Invest in the stoek of any corporation organized under
the provisions of this section, but the aggregate amount
of stock held in all corporations engaged in business
of the kind described in this section and in section
 25 of the Federal Reserve Act as amended shall
not exceed 10 per centum of the subscribing bank’s
capital and surplus.
A majority of the shares of the capital stock of any
such corporation shall at all times be held and owned by
citizens of the United States, by corporations the controlling
 interest in which is owned by citizens of the
United States, chartered under the laws of the United
States or of a State of the United States, or by firms or
companies, the controlling interest in which is owned by
titizens of the United States. The provisions of section
8 of the act approved October 15, 1914," entitled “An
act to supplement existing laws against unlawful restraints
 and monopolies, and for other purposes,” as
amended by the acts of May 15, 1916, and September 7,
1916, shall be construed to apply to the directors, other
officers, agents, or employees of corporations organized
under the provisions of this section: Provided, however,
That nothing herein contained shall (1) prohibit any
director or other officer, agent or employee of any-member
bank, who has procured the approval of the Federal
Reserve Board from serving at the same time as a director
or other officer, agent or employee of any corporation
ganized under the provisions of this section in whose
capital stock such member bank shall have invested;
or (2) prohibit any director or other officer, agent, or
employee of any corporation organized under the provisions
 of this section, who has procured the approval
of the Federal Reserve Board, from serving at the same
time as a director or other officer, agent or employee of
any other corporation in whose capital stock sueh first~
mentioned corporation shall have invested under the
provisions of this section.

W Phe Clavton Act. For text see Appendix, D. 69

B61