12 USC § 621 - Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited

---
identifier: "/us/usc/t12/s621"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 621 - Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "621"
section_name: "Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited"
chapter_number: 6
chapter_name: "FOREIGN BANKING"
subchapter_number: "II"
subchapter_name: "ORGANIZATION OF CORPORATIONS TO DO FOREIGN BANKING"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Dec. 23, 1913, ch. 6, § 25A (par.), formerly § 25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; renumbered § 25A, Pub. L. 102–242, title I, § 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)"
---


# § 621. Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited

Shareholders in any corporation organized under the provisions of this subchapter shall be liable for the amount of their unpaid stock subscriptions. No such corporation shall become a member of any Federal reserve bank.

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**Source Credit**: (Dec. 23, 1913, ch. 6, § 25A (par.), formerly § 25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; renumbered § 25A, Pub. L. 102–242, title I, § 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)

## Editorial Notes

### References in Text

This subchapter, referred to in text, was in the original “this section”, meaning section 25A of act , which is classified to this subchapter (§ 611 et seq.).

### Codification

Section is comprised of par. 13 (undesignated) of section 25A of act , which comprises this subchapter. For complete classification of section 25A of this Act, see Codification note set out under .