12 U.S.C. § 282
Section 282 · Subscription to capital stock by national banking association
This is § 2 of the Federal Reserve Act of 1913
Amended 2 times on record
Applied in 4 court decisions — leading case Luevano v. Campbell (1981)
Most recently applied in United States v. Wells Fargo (November 2019)
How often courts cite this section
Court decisions citing this, by year.Markers show enactment, consequential amendments, and circuit splits over this section — watch for a citation surge after a change or a disagreement. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Every national banking association within each Federal reserve district shall be required to subscribe to the capital stock of the Federal reserve bank for that district in a sum equal to 6 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 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, said payments to be in gold or gold certificates.
Editorial notes U.S. Code · Office of the Law Revision Counsel
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.
Cross References
Payment of obligations containing a gold clause, see section 5118 of Title 31, Money and Finance.