Annual Report of the Commissioner of the Banking Department of the State of Michigan

Front Cover
Office of the Commissioner of the State Banking Department, 1914 - Banks and banking
0 Reviews
Reviews aren't verified, but Google checks for and removes fake content when it's identified

From inside the book

What people are saying - Write a review

We haven't found any reviews in the usual places.

Other editions - View all

Common terms and phrases

Popular passages

Page xxx - The total liabilities to any association, of any person, or of any company, corporation, or firm for money borrowed, including in the liabilities of a...
Page xliv - A public office is the right, authority and duty, created and conferred by law, by which for a given period, either fixed by law or enduring at the pleasure of the creating power, an individual is invested with some portion of the sovereign functions of the government, to be exercised by him for the benefit of the public.
Page xxxi - But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by the person negotiating the same, shall not be considered as money borrowed.
Page lxi - ... decrees in its favor, or deposits of money, bills or other valuable things for its use, or for the use of its stockholders or creditors, all payments of money, either after the commission of an act of insolvency, or in contemplation thereof, with a view...
Page liv - person' may extend and be applied to bodies politic and corporate as well as to individuals.
Page lix - ... and of the amount of the assessment which he must pay for the purpose of making good such deficiency, by a written or printed notice mailed to such stockholder at his last known address or served personally upon him.
Page xxxiii - Federal reserve bank shall transact any business except such as is incidental and necessarily preliminary to its organization until it has been authorized by the Comptroller of the Currency to commence business under the provisions of this Act.
Page xxxvii - Banking authority when he finds the capital of any bank is impaired or reduced below the amount required by law, to require such bank to make good the deficiency within ninety days after a written requisition is made, and in case the impairment is not made good it becomes his duty, with the concurrence of the Attorney General, to institute proceedings for the appointment of a receiver to wind up the affairs of the bank.
Page lxvi - Persons holding stock as executors, administrators, guardians or trustees shall not be personally subject to any liabilities as stockholders ; but the estates and funds in their hands shall be liable in like manner and to the same extent as the testator, intestate, ward or person interested in such funds would be, if living and competent to act and hold the stock in his own name.
Page xlvii - ... per centum of the unimpaired capital and surplus of said bank ; but this restriction shall not apply to the discount of bills of exchange drawn in good faith against actually existing values.

Bibliographic information