Regulatory Text
12 C.F.R. § 5.67 — Fractional shares.
§ 5.67 Fractional shares. A national bank issuing additional stock may adopt arrangements to preclude the issuance of fractional shares. The bank may remit the cash equivalent of the fraction not being issued to those to whom fractional shares would otherwise be issued. The cash equivalent is based on the market value of the stock, if there is an established and active market in the national bank's stock. In the absence of such a market, the cash equivalent is based on a reliable and disinterested determination as to the fair market value of the stock if such stock is available. The bank may propose an alternate method in the application for the stock issuance filed with the OCC. [85 FR 80470, Dec. 11, 2020]
Source: ecfr.gov · govinfo.gov — public domain
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Root-LD Entity Data
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Root-LD v1.0 · boisestandard.org
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BS-CFR12-SEC-C41310
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REGULATION / FEDERAL-CFR-SECTION
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boisestandard.org
Citation
12 C.F.R. § 5.67
Corpus
CFR — Code of Federal Regulations
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PRIMARY-SOURCE
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✓ TRUE
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Pending — corpus passes queued
The regulatory text of 12 C.F.R. § 5.67 is reproduced from the official Code of Federal Regulations as published by the Office of the Federal Register and the National Archives and Records Administration.
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Title 12 — Banks and Banking
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12 C.F.R. — public domain
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