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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. "
Documents Accompanying the Journal of the House - Page 132
by Michigan. Legislature - 1889
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A Treatise on the Law of National and State Banks: Including the Clearing ...

Harvey White Magee - Banking law - 1906 - 864 pages
...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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International Library of Technology: A Series of ..., Volume 44, Part 2

Agriculture - 1906 - 538 pages
...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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Principles of Law: Appendix

Commercial law - 1906 - 534 pages
...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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Annual Report [etc.] on State Banks, Mutual Savings Banks and ..., Issue 11

Wisconsin. Banking Dept - Banks and banking - 1906 - 644 pages
...ordinary usages of hanking institutions. Bad debts, what are. SECTION 34. All dehts due to any hank, on which interest is past due and unpaid for a period of 1 welve months, unless the same are well secured or in process of collection, shall be considered had...
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A Treatise on the Modern Law of Banking, Volume 1

Albert Sidney Bolles - Banking law - 1907 - 600 pages
...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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Modern Banking Methods and Practical Bank Bookkeeping

Albert Reed Barrett - Banks and banking - 1908 - 346 pages
...an amount greater than its net profits then on hand, deducting therefrom its losses and bad debts. All debts due to any association, on which interest is past due and unpaid for a period of sir months, unless the same are well secured, and in process of collection, shall be considered bad...
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Report of the Bank Commissioners of the State of Connecticut

Connecticut. Bank Commissioners - Banks and banking - 1908 - 500 pages
...deducting aJl losses, all sums due for expenses, and all overdue debts upon which no interest has been paid for a period of six months, unless the same are well secured and in process of collection. The trustees or directors voting for any dividend in violation of any provision of this section shall...
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Journal, Volumes 1-4

Texas. Legislature. Senate - Texas - 1909 - 1392 pages
...an amount greater than its net profits then on hand, deducting therefrom its losses and bad debts. All debts due to any association, on which interest...process of collection, shall be considered bad debts within the meaning of this section. The board of directors of any bank or trust company organized under...
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Laws Passed by the ... Legislature of the State of Texas

Texas - Law - 1909 - 606 pages
...profits then on hand, deducting therefrom its losses and bad debts. All debts due to any State bank on which interest is past due and unpaid for a period of six months, unless the same are well secured or in process of collection, shall be considered bad debts within the meaning of this Section. The...
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Report

Connecticut. Office of Bank Commissioner - Banks and banking - 1909 - 508 pages
...deducting a)l losses, all sums due for expenses, and all overdue debts upon which no interest has been paid for a period of six months, unless the same are well secured and in process í 341S. Corporation ls forbidden by Implication to purchase Its stock. 62 C. 99. of collection. The...
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