 | United States. Congress. Senate. Committee on Banking and Currency - 1964 - 162 pages
...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... | |
 | United States. Congress. House. Judiciary - 1965 - 148 pages
...purchasing and holding stock in any corporation where such purchase shall be necessary to prevent a loss upon a debt previously contracted in good faith ; and stock so purchased or acquired in corporations organized under this section shall within six months from such purchase be sold or... | |
 | United States. Congress. House. Banking and Currency Committee - 1965 - 624 pages
...make any loan or discount 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. As stated in 12 USC 83, a national bank may accept the security of its own stock only when such security... | |
 | United States. Office of the Comptroller of the Currency - Banking law - 1966 - 480 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... | |
 | United States. Congress. House. Committee on Ways and Means - Debts, Public - 1967 - 302 pages
...purchasing and holding stock in any corporation where such purchase shall be necessary to prevent a loss upon a debt previously contracted in good faith; and stock so purchased or acquired in corporations organized under this section shall within six months from such purchase be sold or... | |
 | Philippines. Supreme Court - Law reports, digests, etc - 1924 - 1112 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 bank in accordance... | |
 | Minnesota. Supreme Court - Law reports, digests, etc - 1888 - 614 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 sis (6) months from the time of its purchase, be sold or disposed of at public or private sale." This... | |
 | Minnesota. Supreme Court - Law reports, digests, etc - 1895 - 616 pages
...shares of its own capital stock, or to be the purchaser or holder of any of its shares of capital stock, unless such security or purchase shall be necessary...loss upon a debt previously contracted in good faith. Laws 1881, ch. 77, ยง 3. The bank itself could not have purchased the stock shares, nor could it enter... | |
 | Administrative law - 1981 - 428 pages
...upon a debt previously contracted in good faith: and stock so purchased or acquired shall, within 6 months from the time of its purchase, be sold or disposed of at public or private sah>; or. in default thereof, a receiver may be appointed to close up the business of the association,... | |
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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... 
