# 12 C.F.R. § 5.67 (2026): Fractional shares

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_67

## Section

- **Citation:** 12 C.F.R. § 5.67 (2026)
- **Heading:** Fractional shares
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** 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 / § 5.67: § 5.67   Fractional shares.

## Text

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]

## Nearby sections

- [12 C.F.R. § 5.60 (2026) § 5.60   Authority, scope, and exceptions to rules of general applicability.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_60.md)
- [12 C.F.R. § 5.61 (2026) § 5.61   Definitions.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_61.md)
- [12 C.F.R. § 5.62 (2026) § 5.62   Date of declaration of dividend.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_62.md)
- [12 C.F.R. § 5.63 (2026) § 5.63   Capital limitation under 12 U.S.C. 56.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_63.md)
- [12 C.F.R. § 5.64 (2026) § 5.64   Earnings limitation under 12 U.S.C. 60.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_64.md)
- [12 C.F.R. § 5.65 (2026) § 5.65   Restrictions on undercapitalized institutions.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_65.md)
- [12 C.F.R. § 5.66 (2026) § 5.66   Dividends payable in property other than cash.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_66.md)
- [12 C.F.R. § 5.67 (2026) § 5.67   Fractional shares.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_67.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_67. Check the current official text before relying on it. Not legal advice.