Bank shall decide, a proportion of the increase of stock equivalent to the proportion which its stock teheretofore subscribed bears to the total capital stock of the Bank, but no member shall be obligated to subscribe to any part of the increased capital.
Section 4. Isseu price of shares
Share included in the minimum subscriptions of original members shall be issued at par. Other shares shall be issued at par unless the Bank by a majority of the total voting power decides in special circumstances to issue them on other terms.
Section 5. Division and calls of subscribed capital
The subscription of each member shall be divided into two parts as follows:
- (I) twenty per cent. shall be paid or subject to call under Section 7 (I) of this Article as needed by the Bank for its operations.
- (II) the remaining eighty per cent. shall be subject to call by the Bank only when required to meet obligations of the Bank created under Article IV, Section 1 (a) (II) and (III).
Calls on unpaid subscriptions shall be uniform on all shares.
Section 6. Limitation on liability
Liability on shares shall be limited to the unpaid portion of the issue price of the shares.
Section 7. Method of payment of subscription for shares
Payment of subscription for shares shall be made in gold or United States dollars and in the currencies of the members as follows:
- (I) under Section 5 (I) of this Article, two per cent. of the price of each share shall be payable in gold or United States dollars, and, when calls are made, the remaining eighteen per cent. shall be paid in the currency of the member;
- (II) when a call is made under Section 5 (II) of this Article, payment may be made at the option of the member either in gold, United States dollars or in the currency required to discharge the obligations of the bank for the purpose for which the call is madae;
