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" 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... "
Practical Information - Page 123
by William A. Richardson - 1873
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Public Documents of Massachusetts, Volume 6

Massachusetts - 1899
...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...be sold or disposed of at public or private sale. SECT. 17. The total liabilities to such corporation of any person, firm or corporation, other than...
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The Bankers' Magazine, and Journal of the Money Market, Volume 39

Banks and banking - 1879
...the security of the shares of their own capital stock, or from purchasing or holding the same unless to prevent loss upon a debt previously contracted in good faith. And, even in the latter case, they are not permitted permanently to hold or to cancel shares so obtained,...
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Acts of the State of Ohio, Volume 49

Ohio - Session laws - 1851
...portion of its capital stock, or of the capital stock of any other incorporated company, unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith, on security which, at the time, was deemed adequate to insure the payment of such debt, independent...
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Public and Local Acts of the Legislature of the State of Michigan, Volume 2

Michigan - 1857
...,/.,'. , , nor hold its own stock of any other incorporated company, unless such purchase •tock. shall be necessary to. prevent loss upon a debt previously contracted in good faith, on security which at the time was deemed adequate to insure the payment of such debt, independent of...
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The Compiled Laws of the State of Michigan: Published by Authority, Part 2

Michigan, Thomas McIntyre Cooley - Law - 1857
...Ątsonrn stock of any other incorporated company, unless such purchase or other Capital ,,,, ч ii • ^T shall be necessary to prevent loss upon a debt previously contracted in good faith, on security which at the time was deemed adequate to insure the payment of such debt, independent of...
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Public Documents of Massachusetts, Issue 7, Part 1 - Issue 8, Part 1

Massachusetts - Massachusetts - 1893
...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...from the time of its purchase, be sold or disposed of ut public or private sale. SECT. 17. The total liabilities to such corporation of any person, firm...
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Public Documents of Massachusetts, Volume 6, Part 1

Massachusetts - Massachusetts - 1894
...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...and stock so purchased or acquired shall, within six mouths from the time of its purchase, be sold or disposed of at public or private sale. SECT. 17. The...
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Public Documents of Massachusetts, Volume 6, Part 2

Massachusetts - Massachusetts - 1894
...corporation shall be the purchaser or holder of any of the shares of its own capital stock, unless such purchase shall be necessary to prevent loss upon a...debt previously contracted in good faith ; and stock xxiv APPENDIX. so purchased shall, within six months from the time of its purchase, be sold or disposed...
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Laws enacted in the general assembly of the commonwealth

1860
...its capital, or of the capi•apiui stock of ta' stoc'c °f any other incorporated bank, unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith, on security, which at the time was deemed adequate to insure the payment of such debt, independent...
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The Merchants' Magazine and Commercial Review, Volume 48

1863
...portion of its capital stock, or of the capital stock of any other incorporated company, unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith, on security which, at the time, was deemed adequate to insure the payment of such debt, independent...
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