5.60—Authority, scope, and exceptions to rules of general applicability.

(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.

CFR

5.60—Authority, scope, and exceptions to rules of general applicability.