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<CFRGRANULE xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:noNamespaceSchemaLocation="CFRMergedXML.xsd">
  <FDSYS>
    <CFRTITLE>12</CFRTITLE>
    <CFRTITLETEXT>Banks and Banking</CFRTITLETEXT>
    <VOL>7</VOL>
    <DATE>2007-01-01</DATE>
    <ORIGINALDATE>2007-01-01</ORIGINALDATE>
    <COVERONLY>false</COVERONLY>
    <TITLE>Par value and price of stock.</TITLE>
    <GRANULENUM>925.19</GRANULENUM>
    <HEADING>Section 925.19</HEADING>
    <ANCESTORS>
      <PARENT HEADING="Title 12" SEQ="4">Banks and Banking</PARENT>
      <PARENT HEADING="CHAPTER IX" SEQ="3">FEDERAL HOUSING FINANCE BOARD</PARENT>
      <PARENT HEADING="SUBCHAPTER D" SEQ="2">FEDERAL HOME LOAN BANK MEMBERS AND HOUSING ASSOCIATES</PARENT>
      <PARENT HEADING="PART 925" SEQ="1">MEMBERS OF THE BANKS</PARENT>
      <PARENT HEADING="Subpart D" SEQ="0">Stock Requirements</PARENT>
    </ANCESTORS>
  </FDSYS>
  <SECTION>
    <SECTNO>§ 925.19</SECTNO>
    <SUBJECT>Par value and price of stock.</SUBJECT>
    <P>The capital stock of each Bank shall be sold at par, unless the Board has fixed a higher price.</P>
  </SECTION>
</CFRGRANULE>
