---
kind: "section"
citation: "12 U.S.C. § 282"
title: "12"
title_heading: "Banks and Banking"
number: "282"
heading: "Subscription to capital stock by national banking association"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/282"
units:
  - "Chapter 3 — Federal Reserve System"
  - "Subchapter VI — Capital and Stock of Federal Reserve Banks; Dividends and Earnings"
---

# §282. Subscription to capital stock by national banking association


Every [national banking association](/usc/12/221a.md?p=a) within each Federal reserve [district](/usc/12/221a.md?p=a) shall be required to subscribe to the capital stock of the Federal [reserve bank](/usc/12/221a.md?p=a) for that [district](/usc/12/221a.md?p=a) in a sum equal to six per centum of the paid-up capital stock and surplus of such bank, one-sixth of the subscription to be payable on call of the [Board](/usc/12/221a.md?p=a) of Governors of the Federal Reserve System, one-sixth within three months and one-sixth within six months thereafter, and the remainder of the subscription, or any part thereof, shall be subject to call when deemed necessary by the [Board](/usc/12/221a.md?p=a), said payments to be in gold or gold certificates.


## Source credit

(Dec. 23, 1913, ch. 6, § 2 (part), 38 Stat. 252; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)

## Notes

### Editorial Notes

### Codification

Section is based on part of the third par. of section 2 of act Dec. 23, 1913. The rest of the third par. was not included in the Code. For classification of other pars. of section 2 of this Act, see Codification note set out under section 222 of this title.

### Statutory Notes and Related Subsidiaries

### Change of Name

Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.