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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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The Compiled Statutes of the State of Nebraska, 1881: With Amendments 1882 ...

Nebraska, Guy Ashton Brown, Hiland Hill Wheeler - Law - 1895 - 1490 pages
...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 (6) months from the time of its purchase be sold...
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Reports of Cases Argued and Determined in Ohio Courts of Record Except ...

William John Tossell, Ohio. Superior Courts - Law reports, digests, etc - 1906
...capital stock, or of the capital stock of any other incorporated company, unless such purchase should be necessary to prevent loss upon a debt previously contracted in good faith, on security which, at the time, was deemed Marriott v. Railway. adequate to insure the payment of such...
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Annual Report

Michigan. Banking Division - Banks and banking - 1896
...shall be necessary to prevent loss npon a debt previonsly contracted in good faith. Stock eo pnrchased shall in no case be held by the bank for a longer...if the stock can be sold for what it cost, and it mnst be sold for the best price obtainable within one year, or canceled as hereinafter provided for...
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United States Reports: Cases Adjudged in the Supreme Court at ... and Rules ...

United States. Supreme Court - Law reports, digests, etc - 1896
...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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The Revised Statutes, Codes and General Laws of the State of New York ...

New York (State) - 1896
...own capital stock nor be the purchaser or holder of any such shares unless such security or purchase re than one year, or both. Pen. Code, 6(54. 46 Keeping house for same; search wa and stock so purchased or acquired shall, within six months from the time of its purchase, be sold...
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How to Do Business as Business is Done in Great Commercial Centers

Seymour Eaton - Business - 1896 - 316 pages
...loan or discount on the security of shares in its own capital stock unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith." The Name "Bank." In some of the states the title Bank can be lawfully used by any one; in other states,...
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Reports of Cases Heard and Determined in the Appellate Division ..., Volume 29

New York (State). Supreme Court. Appellate Division - Law reports, digests, etc - 1898
...stock, nor be the purchaser or holder of any such shares unless such security or purchase shall he necessary to prevent loss upon a debt previously contracted in good faith. (13 U. S. Stat. at Large, 110, 35.) We have here, then, an express inhibition against doing the...
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Session Laws of 1890-1905: Passed at the 1st-8th Regular Session of the ...

Oklahoma - Law - 1897
...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 or acquirement,...
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Compiled Laws of New Mexico: In Accordance with an Act of the Legislature ...

New Mexico - Law - 1897 - 1159 pages
...portion of its own stock, or of the capital stock of any other incorporated company, unless such purchase ng or other improvement, as aforesaid, shall be held to be the agent of the owner on security which at the time was deemed adequate to insure the payment of such debt, independent of...
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Laws of the State of Wisconsin

Wisconsin - Bills, Private - 1897
...Nobank shall be the holder of 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. Stocks so purchased shall in no case be held by the bank for a longer time than six months, if the...
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