 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...  Annual Report of the Commissioner of Banks - Page xxxixby Massachusetts. Division of Banks and Loan Agencies - 1902Full view - About this book
 | Robert John Walker - Finance - 1864 - 406 pages
...its capital stock, or forbidden. 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, or security which, at the time, was deemed adequate to insure the payment of such debt, independent... | |
 | Charles Tennant - Banks and banking - 1866 - 894 pages
...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...contracted in good faith ; and stock so purchased or required to be sold or disposed of, at public or private sale, within six months from the time of its... | |
 | United States. Supreme Court - Law reports, digests, etc - 1874 - 726 pages
...capital stock, and prohibit also every bank from purchasing or holding any such shares, unless such security or purchase shall be necessary to prevent...loss upon a debt previously contracted in good faith. Surely an implication is inadmissible which contradicts either the letter or the spirit of the act.... | |
 | James M. Hiatt - United States - 1868 - 426 pages
...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...so purchased or acquired, shall, within six months from the time of its purchase, be sold or disposed of at public or private sale, in default of which... | |
 | Encyclopedias and dictionaries - 1869 - 944 pages
...portion 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 tho pavment of such debt, independent... | |
 | John Torrey Morse (Jr.) - Banking law - 1870 - 600 pages
...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...and stock so purchased or acquired shall, within six mouths from the time of its purchase, be sold or disposed of at public or private sale, in default... | |
 | William Adams Richardson - History - 1873 - 192 pages
...own capital stock, 14 nor be the purchaser or holder shares, except m of any such srmres, unless such security or purchase shall be necessary to prevent...so purchased or acquired shall, within six months from the time of its purchase, be sold or disposed of at public or private sale, in default of which... | |
 | William Adams Richardson - History - 1873 - 208 pages
...purchaser or holder shares, except in of any such shares, unless such security or purchase shall oertam be necessary to prevent loss upon a debt previously...so purchased or acquired shall, within six months from the time of its purchase, be sold or disposed of at public or private sale, in default of which... | |
 | Ohio. Supreme Court - Law reports, digests, etc - 1912 - 644 pages
...no banking company shall be the holder or purchaser of any portion of its capital stock unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith, etc., it does not say that if the bank did take this stock, it could not hold it as against the pledgor.... | |
 | Bankruptcy - 1874 - 742 pages
...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...stock so purchased or acquired shall within six months from the time of its purchase, be sold or disposed of at public or private sale, in default of which... | |
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