FEDERAL RESERVE ACT szc.4 
When the minimum amount of capital stock prescribed 
by this Act for the organization of any Federal reserve 
bank shall have been subscribed and allotted, the organi- 
zation committee shall designate any five banks of those 
whose applications have been received, to execute a cer- 
sficate of organization, and thereupon the banks so des- 
ignated shall, under their seals, make an organization 
certificate which shall specifically state the name of such 
Federal reserve bank, the territorial extent of the district 
over which the operations of such Federal reserve bank 
are to be carried on, the city and State in which said bank 
is to be located, the amount of capital stock and the num- 
ber of shares into which the same is divided, the name 
and place of doing business of each bank executing such 
certificate, and of all banks which have subscribed to the 
capital stock of such Federal reserve bank and the num- 
her of shares subscribed by each, and the fact that the 
certificate is made to enable those banks executing same, 
and all banks which have subscribed or may thereafter 
subscribe to the capital stock of such Federal reserve 
bank, to avail themselves of the advantages of this Act. 
The said organization certificate shall be acknowledged 
before a judge of some court of record or notary public; 
and shall be, together with the acknowledgment thereof, 
authenticated by the seal of such court, or notary, trans- 
mitted to the Comptroller of the Currency, who shall file, 
record and carefully preserve the same in his office. 
Upon the filing of such certificate with the Comptroller 
of the Currency as aforesaid, the said Federal reserve bank 
shall become a body corporate, and as such, and in the 
name designated in such organization certificate. shall 
have power— 
First. To adopt and use a corporate seal. 
Second. To have succession after the approval of this 
Act until dissolved by Act of Congress or until forfeiture 
of franchise for violation of law. 
Third. To make contracts. 
Fourth. To sue and be sued, complain and defend, in 
any court of law or equity. 
Fifth. To appoint by its board of directors such officers 
and employees as are not otherwise provided for in this 
Act, to define their duties, require bonds of them and fix 
the penalty thereof, and to dismiss at pleasure such offi- 
cers or employees.