12 CFR § 5.60 - Authority, scope, and exceptions to rules of general applicability.

---
identifier: "/us/cfr/t12/s5.60"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 5.60 - Authority, scope, and exceptions to rules of general applicability."
title_number: 12
title_name: "Banks and Banking"
section_number: "5.60"
section_name: "Authority, scope, and exceptions to rules of general applicability."
chapter_name: "COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY"
part_number: "5"
part_name: "RULES, POLICIES, AND PROCEDURES FOR CORPORATE ACTIVITIES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1  24a, 35, 93a, 214a, 215, 215a, 215a-1, 215a-2, 215a-3, 215c, 371d, 481, 1462a, 1463, 1464, 1817(j), 1831i, 1831u, 2901  3101  3907, and 5412(b)(2)(B)."
regulatory_source: "61 FR 60363, Nov. 27, 1996, unless otherwise noted."
cfr_part: "5"
---


# 5.60 Authority, scope, and exceptions to rules of general applicability.

(a) *Authority.* 12 U.S.C. 56, 60, and 93a.

(b) *Scope.* Except as otherwise provided, the restrictions in this subpart apply to the declaration and payment of all dividends by a national bank, including dividends paid in property. However, the provisions contained in § 5.64 do not apply to dividends paid in stock of the bank.

(c) *Exceptions to the rules of general applicability.* Sections 5.8, 5.10, and 5.11 do not apply to this subpart.