---
kind: "section"
citation: "12 C.F.R. § 1277.21"
title: "12"
number: "1277.21"
heading: "Issuance of capital stock."
url: "https://uscodex.org/cfr/12/1277.21"
---

# §1277.21. Issuance of capital stock.


A Bank may issue either one or both classes of its capital stock (including subclasses), as authorized by [§ 1277.20](/cfr/12/1277.20.md), and shall not issue any other class of capital stock. A Bank shall issue its stock only to its members, or to former members to the extent those institutions are required to maintain a minimum stock investment for existing activities under the capital plan, and only in book-entry form. The Bank shall act as its own transfer agent. All capital stock shall be issued in accordance with the Bank's capital plan.


## Notes

### Authority

Authority: 12 U.S.C. 1426, 1436(a), 1440, 1443, 1446, 4511, 4513, 4514, 4526, 4612.

### Source

Source: 80 FR 12755, Mar. 11, 2015, unless otherwise noted.