§ 5.60 Authority, scope, and exceptions to rules of general applicability.
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Title 12 CFR: Banks and Banking › Chapter I: COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY › Part 5: RULES, POLICIES, AND PROCEDURES FOR CORPORATE ACTIVITIES › Subpart E: Payment of Dividends by National Banks › § 5.60: § 5.60 Authority, scope, and exceptions to rules of general applicability.
Text
(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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