 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 123by Michigan. Legislature - 1889Full view - About this book
 | 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... | |
 | 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... | |
 | 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... | |
 | 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... | |
 | 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... | |
 | 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... | |
 | 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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