§ 5.60. Authority, scope, and exceptions to rules of general applicability.
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/us/cfr/t12/s§ 5.60·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Authority. 12 U.S.C. 56, 60, and 93a.
(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 do not apply to dividends paid in stock of the bank.
(c)Exceptions to the rules of general applicability. Sections 5.8, 5.10, and 5.11 do not apply to this subpart.
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§ 5.60
Authority, scope, and exceptions to rules of general applicability.
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