§5.60. Authority, scope, and exceptions to rules of general applicability.
12 C.F.R. § 5.60
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.
Exceptions to the rules of general applicability. Sections 5.8, 5.10, and 5.11 do not apply to this subpart.
Notes, amendments, and revision history
Authority
Authority: 12 U.S.C. 1 et seq., 24a, 35, 93a, 214a, 215, 215a, 215a-1, 215a-2, 215a-3, 215c, 371d, 481, 1462a, 1463, 1464, 1817(j), 1831i, 1831u, 2901 et seq., 3101 et seq., 3907, and 5412(b)(2)(B).
Source
Source: 61 FR 60363, Nov. 27, 1996, unless otherwise noted.