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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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The Merchants' Magazine and Commercial Review, Volume 48

William B. Dana - Commerce - 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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The Merchants' Magazine and Commercial Review, Volume 51

Commerce - 1864
...stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall he necessary to prevent loss upon a debt previously contracted...shall, within six months from the time of its purchase, he sold or disposed of at public or private sale, in default of which a receiver may he appointed to...
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THE AMERICAN ANNUAL CYCLOPAEDIA

1864
...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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American Slavery and Finances, Volumes 1-9

Robert John Walker - Finance - 1864
...its capital stock, or forbidden. 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, or security which, at the time, was deemed adequate to insure the payment of such debt, independent...
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The Bank of England: And the Organisation of Credit in England

Charles Tennant - Banks and banking - 1866 - 869 pages
...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...contracted in good faith ; and stock so purchased or required to be sold or disposed of, at public or private sale, within six months from the time of its...
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Cases Argued and Adjudged in the Supreme Court of the United States, Volume 18

United States. Supreme Court - Law reports, digests, etc - 1874
...security of the shares of its own capital stock, nor be tho purchaser nor holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt pro. viously contracted in good faith." The new act in terms repealed the old act. It provided, however,...
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An Analytical Digest of the Laws of the United States, Volume 2

Frederick Charles Brightly - Law - 1869
...-;?',. its own capital stock, nor be the purchaser or holder of any such shares, unless such la 8tat' ates, con- stock n'<0 ta tracted in good faith ;(c) and stock so purchased or acquired shall, within six...
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A Treatise on the Law Relating to Banks and Banking: With an Appendix ...

John Torrey Morse (Jr.) - Banking law - 1870 - 542 pages
...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, in default...
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Reports of Cases Argued and Determined in the Supreme Court of Ohio, Volume 85

Ohio. Supreme Court - Law reports, digests, etc - 1912
...no banking company shall be the holder or purchaser of any portion of its capital stock unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith, etc., it does not say that if the bank did take this stock, it could not hold it as against the pledgor....
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Reports of Cases Argued and Determined in the Supreme Court of Ohio, Volume 36

Ohio. Supreme Court - Law reports, digests, etc - 1881
...capital stock or of the capital stock of any other incorporated company, unless such purchase should 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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