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" All debts due to any association, on which interest is past due and unpaid for a period of six months, unless the same are well secured, and in process of collection, shall be considered bad debts within the meaning of this section. "
Joint Documents ... for the Year ... - Page 132
by Michigan. Legislature - 1889
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Principles of Law: Husband & Wife; Divorce; Parent & Child ..., Volume 2

International Correspondence Schools - Children - 1903
...profits then on hand, deducting therefrom its losses and bad debts. All debts due to any associations, on which interest is past due and unpaid for a period...process of collection, shall be considered bad debts within the meaning of this section. But nothing in this section shall prevent the reduction of the...
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Congressional Serial Set

United States - 1863
...amount greater than its net profits then on hand, deducting therefrom its losses and bad debts. And all debts due to any association, on which interest...unpaid for a period of six months, unless the' same shall be well secured, and shall be in process of collection, shall be considered bad debts within...
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Opportunities of To-Day

The Rural Magazine - 1907
...must not pay out in dividends an amount in excess of its net earnings. A debt due to a national bank, on which interest is past due and unpaid for a period of six months, unless the debt is well secured and is in process of collection, is, under the law, a bad debt. Impairment of...
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