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The Law of Banks and Banking: Including Acceptance, Demand and Notice of ...
John Maxcy Zane
No preview available - 2018
acceptance action agent agreement amount apply assignment association authority bank's becomes bill binding cashier certificate charge cited City claim collection Compare considered contract corporation course court Cranch creditor custom debt decision demand deposit depositor directors draft drawer duty equity exchange exist fact Farmers follows funds give given governed held hold holder indorser insolvent interest Iowa issue knowledge liability lien loan maker Mass matter ment Merchants National Bank negligence notice officer Ohio owner paid particular party payable payment permitted person presented principle proper question reason received residence result rule seems Smith statute stockholder suit supra third tion transaction transfer trust Union United unless wrong
Page 674 - The shareholders of each association formed under the provisions of this act, and of each existing bank or banking association that may accept the provisions of this act, shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein at the par value thereof, in addition to the amount invested in such shares...
Page 674 - ... in the hands of such executor, administrator, guardian or trustee, shall be liable in like manner, and to the same extent as the testator or intestate. or the ward or person interested in such trust fund would have been, if he had been living and competent to act, and held the same stock in his own name.
Page 667 - To exercise by its board of directors, or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt...
Page 687 - 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 company or firm, the liabilities of the several members thereof, shall at no time exceed one-tenth part of the amount of the Capital stock of such association actually paid in.
Page 692 - Nothing herein shall prevent all the shares in any association from being included in the valuation of the personal property of the owner or holder of such shares, in assessing taxes imposed by authority of the State within which the association is located...
Page 667 - Sixth. To prescribe, by its board of directors, by-laws not inconsistent with law, regulating the manner in which its stock shall be transferred, its directors elected or appointed, its officers appointed, its property transferred, its general business conducted, and the privileges granted to it by law exercised and enjoyed. Seventh. To exercise by its board of directors, or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business...
Page 665 - ... shall specify in general terms the object for which the association is formed, and may contain any other provisions, not inconsistent with the provisions of this act, which the association may see fit to adopt for the regulation of the business of the association and the conduct of its affairs...
Page 686 - And the knowingly taking, receiving, reserving, or charging a rate of interest greater than aforesaid shall be held and adjudged a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it, or which has been agreed to be paid thereon.
Page 690 - ... shall be published in a newspaper published in the place where such association is established, or If there is no newspaper In the place, then in the one published nearest thereto in the same county, at the expense of the association; and such proof of publication shall be furnished as may be required by the comptroller.