Comptroller's Manual for National Banks: Laws, Regulations, RulingsOffice of Comptroller of the Currency, United States Treasury, 1966 - Banking law |
From inside the book
Page 19
... on the security of the shares of its own capital stock , nor be the purchaser or holder of any such shares , unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith ...
... on the security of the shares of its own capital stock , nor be the purchaser or holder of any such shares , unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith ...
Page 32
... unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith ; and stock so purchased or acquired shall , within six months from the time of its purchase , be sold or disposed ...
... unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith ; and stock so purchased or acquired shall , within six months from the time of its purchase , be sold or disposed ...
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Common terms and phrases
acquire action additional Administrator agency agreement amended amount annual application appropriate approval association Authority Board Building capital Center centum certificate charge City Commission Comptroller conclusion construction corporation County court created Currency dealing debt deemed Deposit determine directors District effect eligible for purchase examination exchange extension facilities faith Federal Reserve filed finance funds held holders holding by national insured interest investment issued lease limitation loan located means meet member bank ment national banks necessary notes notice obligations officer operation Opinion organization paragraph Seventh participation payments perform period person political powers prescribed principal projects purchase pursuant receiver regulations rency rental requested to rule respect Revenue Bonds rule School Series Seventh of 12 shares statement sufficient System term thereof tion transaction trust underwriting United unlimited holding
Popular passages
Page 20 - ... for as many persons as there are directors or managers to be elected, or to cumulate said shares, and give one candidate as many votes as the number of directors multiplied by the number of his shares of stock shall equal, or to distribute them on the same principle among as many candidates as he shall think fit ; and such directors or managers shall not be elected in any other manner.
Page 24 - No association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith...
Page 70 - ... security" or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing.
Page 92 - contribution" includes a gift, subscription, loan, advance, or deposit, of money, or anything of value, and includes a contract, promise, or agreement, whether or not legally enforceable to make a contribution; (e) The term "expenditure...
Page 5 - Second. Such as shall be mortgaged to it in good faith by way of security for debts previously contracted.
Page 15 - That suits, actions, and proceedings against any association under this Title may be had in any circuit, district, or territorial court of the United States held within the district in which such association may be established, or in any State, county, or municipal court in the county or city in which said association is located having jurisdiction in similar cases.
Page 65 - Act of 1938 ; in the Federal Reserve Board where applicable to banks, banking associations, and trust companies; and in the Federal Trade Commission where applicable to all other character of commerce to be exercised as follows...
Page 63 - Commission shall acquire the whole or any part of the assets of another corporation engaged also in commerce, where in any line of commerce in any section of the country, the effect of such acquisition may be substantially to lessen competition, or to tend to create a monopoly.
Page 3 - ... transferable on the books of the association in such manner as may be prescribed in the by-laws or articles of association ; and every person becoming a shareholder by such transfer shall, in proportion to his shares, succeed to all the rights and liabilities of the prior holder of such shares...
Page 7 - Each director, when appointed or elected, shall take an oath that he will, so far as the duty devolves on him, diligently and honestly administer the affairs of such association...
Bibliographic information
| Title | Comptroller's Manual for National Banks: Laws, Regulations, Rulings Comptroller's Manual for National Banks: Laws, Regulations, Rulings, United States. Office of the Comptroller of the Currency |
| Author | United States. Office of the Comptroller of the Currency |
| Publisher | Office of Comptroller of the Currency, United States Treasury, 1966 |
| Export Citation | BiBTeX EndNote RefMan |