 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...  Documents Accompanying the Journal of the House - Page 123by Michigan. Legislature - 1889Full view - About this book
 | Nebraska. Supreme Court, David Allen Campbell, Guy Ashton Brown, Lorenzo Crounse, Walter Alber Leese, Lee Herdmen, Henry Clay Lindsay, Henry Paxon Stoddart - Law reports, digests, etc - 1922 - 980 pages
...of any such shares, unless such I<rwa State & Savings Bank v. City Nat. Bank. security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith." It appears in the present case, as shown by the weight of the evidence, that the rights of innocent... | |
 | Massachusetts - Session laws - 1922 - 1076 pages
...security or endorsement unless the consideration or security is otherwise sufficient, or unless it shall be necessary to prevent loss upon a debt previously contracted in good faith; or who certifies any check drawn upon such bank unless the drawer then has on deposit with the bank... | |
 | James Dysart Magee - Banks and banking - 1923 - 794 pages
...own capital stock, or 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 be sold at public or private sale, or otherwise disposed of,... | |
 | Wyoming - Law - 1925 - 320 pages
...purchaser of its own capital stock, except in cases where the taking of such collateral, or such purchase, shall be necessary to prevent loss upon a debt previously contracted in good faith, and in such cases, unless full payment of such debt is made, such stock shall be sold by the bank within... | |
 | Wyoming - Law - 1925 - 312 pages
...purchaser of its own capital stock, except in cases where the taking of such collateral, or such purchase, shall be necessary to prevent loss upon a debt previously .contracted in good faith, and in such cases, unless full payment of such debt is made, such stock shall be sold by the bank within... | |
 | George Folger Canfield, Isaac Maurice Wormser - Corporation law - 1925 - 960 pages
...of 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... | |
 | Law reports, digests, etc - 1910 - 1050 pages
...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 in good faith." That the charter of a private corporation having a capital stock, such as the bank in question, constitutes... | |
 | Minnesota - Banking law - 1925 - 76 pages
...or discount on the security of its own capital stock, nor be the purchaser or holder thereof, unless necessary to prevent loss upon a debt previously contracted in good faith, and all stock so acquired shall be disposed of at public or private sale within six months after it... | |
 | Law reports, digests, etc - 1885 - 964 pages
...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, and stock so purchased or acquired shall, within six months from the time of its purchase, be sold... | |
 | Thomas Bugard Paton - Banking law - 1926 - 1408 pages
...stock, nor be the purchaser or holder of any such shares unless such security or purchase shall i* necessary to prevent loss upon a debt previously contracted in good faith"; with a further provision for disposition, within six months, of the stock so acquired, It has been... | |
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