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
| United States - Banking law - 1891 - 328 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... | |
| Claudius Buchanan Patten - Bank management - 1908 - 648 pages
...follows: "No bank shall loan or discount on the security of shares in its own capital stock unless such security or purchase shall be necessary to prevent...upon a debt previously contracted in good faith." When shares are taken under the contingency last named the Bank Act demands that they be sold within... | |
| Law reports, digests, etc - 1892 - 936 pages
...security of the shares of its own capital stock, nor be the purchaser of any such shares unless such security or purchase shall be necessary to prevent...upon a debt previously contracted in good faith." US Rev. Stat. Ц 5201. Assuming this to be true, the defendants cannot lake advantage of it, because... | |
| George Mathewes Coffin - Banks and banking - 1893 - 186 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; or, in default thereof,... | |
| New York (State). Courts, Francis Blaine Delehanty (Reporter), Austin B. Griffin (Reporter), Robert George Scherer (Reporter), Edward Jordan Dimock (Reporter), Joseph Albert Lawson (Reporter), Charles Cook Lester (Reporter), William Van Rensselaer Erving (Reporter), Louis J. Rezzemini (Reporter) - Law reports, digests, etc - 1903 - 752 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. Every person or corporation... | |
| Oklahoma. Supreme Court, Edward Bell Green, Frank Dale, John Henry Burford, Robert Lee Williams, Matthew John Kane, Howard J. Parker, Charles Winfield Van Eaton - Law reports, digests, etc - 1916 - 884 pages
...of its own capital stock, nor be the purchaser or holder of any such shares, unless such securities or purchase shall be necessary to prevent loss upon...so purchased or acquired shall, within six months from the time of its purchase, be so'.d or disposed of at public or private sale, and after the expiration... | |
| World's congress of bankers and financiers, Chicago, 1893 - Banks and banking - 1893 - 624 pages
...own capital stock, nor be the purchaser or holder of anysuch shares, unless such security or purcha*? shall be necessary to prevent loss upon a debt previously...good faith; and stock so purchased or acquired shall be sold within six months from the time of its purchase. But no such purchase or sale shall relieve... | |
| District of Columbia. Court of Appeals - Law reports, digests, etc - 1902 - 670 pages
...of its own capital stock, and from becoming 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. 3. An affidavit of defense in an action by a national bank upon a promissory note, is insufficient... | |
| Massachusetts. Division of Banks and Loan Agencies - 1894 - 308 pages
...corporation shall be the purchaser or holder of any of the shares of its own capital stock, unless such purchase shall be necessary to prevent loss upon a...debt previously contracted in good faith ; and stock xxiv APPENDIX. so purcbased shall, within six months from the time of its purchase, be sold or disposed... | |
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