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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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Reports of Selected Cases Decided in Courts of the State of New ..., Volume 41

New York (State). Courts, Francis Blaine Delehanty (Reporter), Austin B. Griffin (Reporter), Robert George Scherer (Reporter), Edward Jordan Dimock (Reporter), Joseph Albert Lawson (Reporter), Charles Cook Lester (Reporter), William Van Rensselaer Erving (Reporter), Louis J. Rezzemini (Reporter) - Law reports, digests, etc - 1903
...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. Every person or corporation violating the provisions of this subdivision shall forfeit to the people...
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Hand-book for Bank Officers

George Mathewes Coffin - Banks and banking - 1893 - 107 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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Oklahoma Reports: Cases Determined in the Supreme Court of the ..., Volume 56

Oklahoma. Supreme Court, Edward Bell Green, Frank Dale, John Henry Burford, Robert Lee Williams, Matthew John Kane, Howard J. Parker, Charles Winfield Van Eaton - Law reports, digests, etc - 1916
...of its own capital stock, nor be the purchaser or holder of any such shares, unless such securities or purchase shall be necessary to prevent loss upon...within six months from the time of its purchase, be so'.d or disposed of at public or private sale, and after the expiration of six months any such stock...
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World's Congress of Bankers and Financiers: Comprising Addresses Upon ...

World's congress of bankers and financiers, Chicago, 1893 - Banks and banking - 1893 - 615 pages
...own capital stock, nor be the purchaser or holder of anysuch shares, unless such security or purcha*? shall be necessary to prevent loss upon a debt previously...good faith; and stock so purchased or acquired shall be sold within six months from the time of its purchase. But no such purchase or sale shall relieve...
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Reports of Cases Adjudged in the Court of Appeals of the District ..., Volume 18

District of Columbia. Court of Appeals - Law reports, digests, etc - 1902
...the shares of its own capital stock, and from becoming the purchaser or holder of any such shares, unless such security or purchase shall be necessary...loss upon a debt previously contracted in good faith. 3. An affidavit of defense in an action by a national bank upon a promissory note, is insufficient...
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Annual Report of the Commissioner of Banks, Part 2

Massachusetts. Division of Banks and Loan Agencies - 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 purcbased shall, within six months from the time of its purchase, be sold or disposed...
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Annual Report

Michigan. Banking Division - Banks and banking - 1894
...holder or Bank not to nom purchaser of any portion of iis capital stock uuless such JJ?"s1 stocls• purchase shall be necessary to prevent loss upon a debt previously contracted in good faith. Stock eo purchased shall in no case be held by the bank for a longer time than six monthe, if the stock...
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The Northwestern Reporter, Volume 59

Law reports, digests, etc - 1894
...the purchaser or holder of any of its shares of capital stock, unless such security or purchase shnll be necessary to prevent loss upon a debt previously contracted in good faith. Gen. Laws 1881, c. 77, i 3. The bank itself could not have purchased the stock shares, nor could It...
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Public Documents of Massachusetts, Volume 6

Massachusetts - 1895
...of the shares of its own capital stock, nor be the purchaser or holder of any such aliares, uiile.sa such security or purchase shall be necessary to prevent...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 Compiled Statutes of the State of Nebraska, 1881: With Amendments 1882 ...

Nebraska, Guy Ashton Brown, Hiland Hill Wheeler - Law - 1895 - 1490 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 (6) months from the time of its purchase be sold or disposed of at public or private sale; or in default...
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