12 USC § 64a - Individual liability of shareholders; limitation on liability

---
identifier: "/us/usc/t12/s64a"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 64a - Individual liability of shareholders; limitation on liability"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "64a"
section_name: "Individual liability of shareholders; limitation on liability"
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: "(June 16, 1933, ch. 89, § 22, 48 Stat. 189; Aug. 23, 1935, ch. 614, title III, § 304, 49 Stat. 708; May 18, 1953, ch. 59, § 2, 67 Stat. 27.)"
---


# 2 Individual liability of shareholders; limitation on liability

So in original. Probably should be “fails”.

So in original. Probably should be “months”.

June 16, 1933July 1, 1937July 1, 1937*Provided*[^1][^2]May 18, 1953

The additional liability imposed upon shareholders in national banking associations by the provisions of sections 63 and 64 of this title shall not apply with respect to shares in any such association issued after . Such additional liability shall cease on , with respect to all shares issued by any association which shall be transacting the business of banking on : , That not less than six months prior to such date, such association shall have caused notice of such prospective termination of liability to be published in a newspaper published in the city, town, or county in which such association is located, and if no newspaper is published in such city, town, or county, then in a newspaper of general circulation therein. If the association fail  to give such notice as and when above provided, a termination of such additional liability may thereafter be accomplished as of the date six month  subsequent to publication, in the manner above provided. In the case of each association which has not caused notice of such prospective termination of liability to be published prior to , the Comptroller of the Currency shall cause such notice to be published in the manner provided in this section, and on the date six months subsequent to such publication by the Comptroller of the Currency such additional liability shall cease.

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**Source Credit**: (June 16, 1933, ch. 89, § 22, 48 Stat. 189; Aug. 23, 1935, ch. 614, title III, § 304, 49 Stat. 708; May 18, 1953, ch. 59, § 2, 67 Stat. 27.)

## Editorial Notes

### References in Text

Sections 63 and 64 of this title, referred to in text, were repealed by , , .

### Amendments

1953—Act , provided for termination of the additional liability, referred to in the section, by action of the Comptroller of the Currency with regard to those associations which had not, prior to , caused notice of termination to be published.

1935—Act , added second and third sentences.

## Executive Documents

### Exception as to Transfer of Functions

Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under .