[Code of Federal Regulations] [Title 12, Volume 1] [Revised as of January 1, 2008] From the U.S. Government Printing Office via GPO Access [CITE: 12CFR5.60] [Page 173] TITLE 12--BANKS AND BANKING CHAPTER I--COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY PART 5_RULES, POLICIES, AND PROCEDURES FOR CORPORATE ACTIVITIES--Table of Contents Subpart E_Payment of Dividends Sec. 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 Sec. 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.