The Federal reserve act (approved December 23, 1913) as amended to March 4, 1931

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Monograph

Identifikator:: 1856431436

URN:: urn:nbn:de:zbw-retromon-262738

Document type:: Monograph

Title:: The Federal reserve act (approved December 23, 1913) as amended to March 4, 1931

Place of publication:: Washington

Publisher:: United States Government Printing Office

Year of publication:: 1931

Scope:: ii, 170 Seiten

Digitisation:: 2022

Collection:: Economics Books

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38 (8) tor, to the any this 000 han the ions 000, ora- ' Té~ J be the ited sach ace- the Chat ora- sital with ject ibe, such the nk’s tted cor- 4 in Act tion pon gq of pital _ at erve s or ders but in be hall 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corporation, except as herein provided, shall during the time it shall continue its operations withdraw or permit to be withdrawn, either in the form of dividends or otherwise, any portion of its capital.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

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