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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... "
Joint Documents ... for the Year ... - Page 123
by Michigan. Legislature - 1889
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Branch, Chain, and Group Banking, Volume 1

United States. Congress. House. Committee on Banking and Currency - Bank failures - 1930 - 2028 pages
...merchandise, nor be the purchaser or holder of its own capital stock, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith; and stock so purchased or acquired shall, within 12 months of its purchase, be sold or disposed of...
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Operation of the National and Federal Reserve Banking Systems, Hearings ...

United States. Congress. Senate. Committee on Banking and Currency - 1932
...or (3) be the purchaser or holder of the stock of such affiliate, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith ; and any stock so purchased or acquired shall be sold or disposed of at public or private sale within...
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Stock Exchange Practices: Hearings Before the Committee on Banking ..., Part 6

United States. Congress. Senate. Committee on Banking and Currency - Stock exchanges - 1933
...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 in good faith ; and stock so purchased or acquired s>hall, within six months from the time of its purchase, be sold...
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The Code of Federal Regulations of the United States of America

Administrative law - 1981
...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 in good faith: and stock so purchased or acquired shall, within 6 months from the time of its purchase, be sold or...
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The Code of Federal Regulations of the United States of America

Administrative law - 1996
...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 in good. faith; and stock so purchased or acquired shall, within 6 months from the time of its purchase, be sold or...
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Hearings, Reports and Prints of the Senate Committee on Banking and Currency

United States. Congress. Senate. Committee on Banking and Currency - Banking law - 1963
...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 in good faith ; and stock so purchased or acquired shall, within six months from the time of its purchase, be sold...
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Federal Banking Laws and Reports, 1780-1912 ..., 50th Anniversary, 1913-1963 ...

United States. Congress. Senate. Committee on Banking and Currency - 1963 - 529 pages
...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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Consolidation of Bank Examining and Supervisory Functions: Hearings Before ...

United States. Congress. House. Banking and Currency Committee - 1965 - 602 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...
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Comptroller's Manual for National Banks: Laws, Regulations, Rulings

United States. Office of the Comptroller of the Currency - Banking law - 1966
...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 in good faith; and stock so purchased or acquired shall, within six months from the time of its purchase, be sold...
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To Amend the Bank Merger Act of 1960: Hearings Before the ..., Volumes 1-2

United States. Congress. House. Committee on Banking and Currency. Subcommittee on Domestic Finance - Bank mergers - 1966 - 2054 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...
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