 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
 | New Hampshire - Law - 1955 - 904 pages
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 | North Dakota - Law - 1959 - 978 pages
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 | 1927 - 1624 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 months from the time of its purchase, be sold... | |
 | United States. Congress. Senate. Committee on Banking and Currency - Banking law - 1963 - 716 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 months from the time of its purchase, be sold... | |
 | United States. Congress. Senate. Committee on Banking and Currency - 1963 - 548 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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