Code of Federal Regulations · Section
§ 5.60 — Authority, Scope, And Exceptions To Rules Of General Applicability
12 C.F.R. § 5.60
View:
(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.
Authorizing Statute
-
Prohibition on withdrawal of capital; unearned dividends12 U.S.C. § 56
-
Office of the Comptroller of the Currency12 U.S.C. § 1