12 USC § 51c - “Common stock”, “capital”, and “capital stock” defined

---
identifier: "/us/usc/t12/s51c"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 51c - “Common stock”, “capital”, and “capital stock” defined"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "51c"
section_name: "“Common stock”, “capital”, and “capital stock” defined"
chapter_number: 2
chapter_name: "NATIONAL BANKS"
subchapter_number: "II"
subchapter_name: "CAPITAL, STOCK, AND STOCKHOLDERS"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Mar. 9, 1933, ch. 1, title III, § 303, 48 Stat. 5.)"
---


# 1 “Common stock”, “capital”, and “capital stock” defined

See References in Text note below.

[^1][^1]

The term “common stock” as used in sections 51a, 51b, 51c, and 51d  of this title means stock of national banking associations other than preferred stock issued under the provisions of said sections. The term “capital” as used in provisions of law relating to the capital of national banking associations shall mean the amount of unimpaired common stock plus the amount of preferred stock outstanding and unimpaired; and the term “capital stock”, as used in sections 101, 177, and 178  of this title, shall mean only the amount of common stock outstanding.

---

**Source Credit**: (Mar. 9, 1933, ch. 1, title III, § 303, 48 Stat. 5.)

## Editorial Notes

### References in Text

, referred to in text, was repealed by , (), . For effect of the repeal on outstanding debentures held by banks, see note under .

Sections 101, 177, and 178 of this title, referred to in text, were repealed by , (5), , , 2293.