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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 Pacific Reporter, Volume 63

Law reports, digests, etc - 1901
...discounts on the security of the shares of Its own capital stock, * « * unless such security * * » shall be necessary to prevent loss upon a debt previously contracted in good faith." What, then, was the legislative purpose in regard to creating liens on the capital stock of banks?...
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Reports of Cases in the Supreme Court of Appeals of Virginia, Volume 79

Virginia. Supreme Court of Appeals - Law reports, digests, etc - 1885
...or holder of any such stock, unless such security or purchase shall he necessary to prevent loss on a debt previously contracted in good faith, and stock...disposed of at public or private sale ; in default thereof a receiver may be appointed to close up the business of the association according to the provisions...
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Pratt's Digest of the National Bank Act and Other Laws Relating to National ...

A.S. Pratt & Sons - Banking law - 1886 - 227 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...be sold or disposed of at public or private sale, or, in default thereof, a receiver may be appointed to close up the business of the association, according...
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Public and Local Acts of the Legislature of the State of Michigan, Part 2

Michigan - 1887
...stockholders. No bank 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. Stock so purchased shall in no case be held by the bank for a longer time than six months, if the stock...
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A Treatise on the Law of Banks and Banking, Volume 2

John Torrey Morse (Jr.) - Banking law - 1888
...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...purchase, be sold or disposed of at public or private sale ; or, in default thereof, a receiver may be appointed to close up the 1 § 135. Bank». Lanier, 11...
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The Northwestern Reporter, Volume 35

Law reports, digests, etc - 1888
...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 shall, within six (6) months from the time of its purchase, be sold or disposed of at public...
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The New York Supplement

Law reports, digests, etc - 1912
...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 debt previously contracted in good faith ;, and stock purchased or acquired shall, within six months...
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The American State Reports: Containing the Cases of General Value ..., Volume 8

Abraham Clark Freeman - Law reports, digests, etc - 1889
...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 (6) months from the time of its purchase, be sold or disposed of at public or private sale." This is...
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The American State Reports: Containing the Cases of General Value ..., Volume 8

Abraham Clark Freeman - Law reports, digests, etc - 1889
...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...faith; and stock so purchased or acquired shall, within BIX (6) months from the time of its purchase, be sold or disposed of at public or private sale." This...
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The National-Bank Act and Other Laws Relating to National Banks, from the ...

United States - Banking law - 1889 - 114 pages
...such security or purchase shall be necessary to preis waii , sea. vent joss Upon a debf. previoas]y contracted in good faith ; and stock so purchased...the time of its purchase, be sold or disposed of at puhьо^ф'»Ипи»м?;! lie or private sale ; or, in default thereof, a receiver may be stick."...
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