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§ 1403. —  Minimum paidin capital stock required to warrant loans.



[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 12USC1403]

 
                       TITLE 12--BANKS AND BANKING
 
   CHAPTER 10--LOCAL AGRICULTURAL-CREDIT CORPORATIONS, LIVESTOCK-LOAN 
    COMPANIES AND LIKE ORGANIZATIONS; LOANS TO INDIVIDUALS TO AID IN 
                 FORMATION OR TO INCREASE CAPITAL STOCK
 
Sec. 1403. Minimum paid-in capital stock required to warrant 
        loans
        
    No loan or advance shall be made to any individual upon the capital 
stock of or to create or increase the capital stock of any corporation, 
unless the paid-in capital stock of such corporation shall be at least 
$10,000.

(Mar. 3, 1932, ch. 70, Sec. 3, 47 Stat. 60.)



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