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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its operations withdraw or permit to be withdrawn, 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 sec- 
tion 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 con- 
trolling 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 re- 
straints 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 pro- 
visions 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