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" ... amount of the capital and surplus of such bank ; 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... "
Annual Report - Page xviii
by Michigan. Banking Division - 1905
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Journal of the House of Representatives of the State of Michigan, Volume 3

Michigan. Legislature. House of Representatives - Legislative journals - 1899
...lines 32 to 43 inclusive. By inserting in line 8 of section 52, after the word "borrowed" the words "Provided, however. That the foregoing limitations...real estate or other collateral securities authorized by this act." By striking out of line 16 of section 52, all after the word "approval" and all of lines...
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Public and Local Acts of the Legislature of the State of Michigan, Part 2

Michigan - Session laws - 1899
...the same shall not be considered as money borrowed: 1'rovided hotccver. That the fore- rrov»o. going limitations shall not apply to loans on real estate or other collateral securities authorized by this act. Provided Further hoverer. That by a two-thirds vote of the directors the liabili- l'°...
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Annual Report of the Attorney General of the State of Michigan

Michigan. Department of Attorney General - 1903
...paper actually owned by the person negotiating the same shall not be considered as money borrowed : Provided, however, That the foregoing limitations...real estate or other collateral securities authorized by this act. Provided however, That by a twothinii-' vote of the directors the liabilities of any bank...
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Public and Local Acts of the Legislature of the State of Michigan, Part 2

Michigan - Session laws - 1905 - 754 pages
...paper actually owned by the person negotiating the same shall not be considered as money borrowed : Provided, however, That the foregoing limitations...real estate or other collateral securities authorized by this act, and deposited with the bank : Provided, however, That by a twothirds vote of directors,...
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Annual Report

Michigan. Banking Division - Banks and banking - 1906
...How much money may any hank loan ou any one line of commercial paper? ''Third, May a hank increase the first named line hy the hond or personal endorsement...person, or company, or corporation, or firm may he increased to a sum not exceeding one-fifth of the capital and surplus of the hank." It is evident that...
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Annual Report

Michigan. Banking Division - Banks and banking - 1906
...paper actually owned by the person negotiating the same shall not be considered as money borrowed: Provided, however, That the foregoing limitations...real estate or other collateral securities authorized by tbis act. Provided, however, That by a two-tbirds vote of the directors the liabilities of any bank...
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Annual Report

Michigan. Banking Division - Banks and banking - 1907
...paper actually owned by the person negotiating the same shall not be considered as money borrowed : Provided, however, That the foregoing limitations...real estate or other collateral securities authorized by this act: Provided, however. That by a two-thirds vote of the directors the liabilities of any bank...
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Public and Local Acts of the Legislature of the State of Michigan, Part 2

Michigan - Session laws - 1907
...owned by the person negotiating the same shall not be considered as money borrowed: Provided, hoioever. That the foregoing limitations shall not apply to...real estate or other collateral securities authorized by this act. and deposited with the bank, or a safety and collateral deposit company organized under...
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Public Acts of the Legislature of the State of Michigan Passed at the ...

Michigan - Law - 1907
...owned by the person negotiating the same shall not be considered as money borrowed : Provided, howcvcr. That the foregoing limitations shall not apply to...real estate or other collateral securities authorized by this act, and deposited with the bank, or a safety and collateral deposit company organized under...
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Annual Report

Michigan. Banking Division - Banks and banking - 1909
...values and the discount of commercial or husiness paper actually owned hy the lierson negotiating Ihe same shall not he considered as money horrowed: Provided,...any person, or company, or corporation, or firm may be increased to a sum not exceeding one-fifth of the capital and surplus of the hank." It is evident...
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