---
kind: "section"
citation: "12 C.F.R. § 5.60"
title: "12"
number: "5.60"
heading: "Authority, scope, and exceptions to rules of general applicability."
url: "https://uscodex.org/cfr/12/5.60"
---

# §5.60. Authority, scope, and exceptions to rules of general applicability.

- (a) **Authority.** 12 U.S.C. [56](/usc/12/56.md), [60](/usc/12/60.md), and [93a](/usc/12/93a.md).
- (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](/cfr/12/5.64.md) do not apply to dividends paid in stock of the bank.
- (c) **Exceptions to the rules of general applicability.** Sections [5.8](/cfr/12/5.8.md), [5.10](/cfr/12/5.10.md), and [5.11](/cfr/12/5.11.md) do not apply to this subpart.

## Notes

### 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.