Statute · United States Code
12 U.S.C. § 83 — Loans by bank on its own stock
12 U.S.C. § 83
- Type
- Statute
- Source
- United States Code
- Jurisdiction
- Federal
- Date
- 2025-01-06
- Topic
- finance
No national bank shall make any loan or discount on the security of the shares of its own capital stock. For purposes of this section, a national bank shall not be deemed to be making a loan or discount on the security of the shares of its own capital stock if it acquires the stock to prevent loss upon a debt previously contracted for in good faith.
Citator
12 U.S.C. § 83 — Loans by bank on its own stock is in force in the current edition of the Code, and nothing recorded condemns it.
No national bank shall make any loan or discount on the security of the shares of its own capital stock. For purposes of this section, a national bank shall not be deemed to be making a loan or discount on the security of the shares of its own capital stock if it acquires the stock to prevent loss upon a debt previously contracted for in good faith.