 | Philippines. Bureau of Agriculture - 1928 - 860 pages
...greater than its net proCti then on hand, deducting therefrom its losses and bad debts. All debts due any association on which interest is past due and unpaid for a period of six months, unless same are well secured in process of collection, shall be considered bad debts within the meaning of... | |
 | The Rural Magazine - 1907 - 276 pages
...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... | |
 | Connecticut - Connecticut - 1910 - 814 pages
...deducting all losses, all sums due for expenses, and aU overdue debts upon which no interest has been paid for a period of six months, unless the same are well secured and in process I 8418. Corporation la forbidden by implication to purchase It* stock. 62 C. 99. of collection. The... | |
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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. 
