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" But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by the person negotiating the same, shall not be considered as money borrowed. "
Annual Report - Page xvii
by Michigan. Banking Division - 1906
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McClain's Annotated Statutes of the State of Iowa: Showing the ..., Volume 1

Iowa, Emlin McClain - Law - 1884 - 1450 pages
...; provided, that the discount of bona fide bills of exchange drawn against actually existing value and the discount of commercial or business paper actually owned by the person or persons, corporation, or firm negotiating the same shall not be considered money borrowed. SEC....
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Proceedings of the ... Annual Meeting of the National Board of Trade, Volume 15

National Board of Trade (U.S.) - Transportation - 1885
...follows : " But the discount of bills of exchange, drawn in good faith against actually existing values, and the discount of commercial or business paper actually...same, shall not be considered as money borrowed." Now, although there is a limitation of ten per cent, of the capital of any National Banking Association,...
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Public and Local Acts of the Legislature of the State of Michigan, Part 2

Michigan - 1887
...such bank ; but the discount of bills of exchange drawn in good faith against actually existing values and the discount of commercial or business paper actually...however, That the foregoing limitations shall not apply provisť. to loans upon real estate or other collateral securities authorized by this act: Provided...
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Pratt's Digest of the National Bank Act and Other Laws Relating to National ...

A.S. Pratt & Sons - Banking law - 1886 - 227 pages
...paid in. But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually...the same, shall not be considered as money borrowed. 44 excess of the limit would be in violation of the letter of the law. There is no specific penalty...
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Laws

Illinois - Law - 1887
...paid in. But the discount of bills of exchange drawn in good faith, against actually existing values, and the discount of commercial or business paper actually...the same, shall not be considered as money borrowed. § 11. Associations may be organized under this act in incorporated towns, villages, or cities of not...
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The Revised Statutes of the State of Illinois: Embracing All Laws of a ...

Illinois - Law - 1887 - 2194 pages
...in. But the discount of bills of exchange drawn in gix>d faith, against actually existing values, aud the discount of commercial or business paper actually...the same, shall not be considered as money borrowed. 11. Capital stock — impairment thereof. §11. Associations may be organized under this act in incorporated...
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Acts Passed by the General Assembly of Georgia

Georgia - Law - 1887
...the discount of bills of exchange drawn in good faith and the discount of commercial paper actuallv owned by the person negotiating the same shall not be considered as borrowed money. Ineorporating tho Bank of Stewart County. surety, notes, mortgages and other evidences...
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Journal of the Senate of the General Assembly, Volume 35

Illinois. General Assembly. Senate - Illinois - 1888
...paid in. But the discount of bills of exchange drawn, in good faith, against actually existing values, and the discount of commercial or business paper actually...same, shall not be considered as money borrowed." The question then being, "Shall the foregoing Senate Bill No. 251, be engrossed, as amended, and placed...
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A Treatise on the Law of Banks and Banking, Volume 2

John Torrey Morse (Jr.) - Banking law - 1888
...§ 128. Kansas Valley Bank v. Rowell, 2 Dill. 371. 2 § 129. ť See Ultra vires, Legislative Intent. discount of commercial or business paper actually...the same, shall not be considered as money borrowed. § 30. (5197.) Interest, what Rate may be taken.1 — Any association may take, receive, reserve, and...
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Joint Documents ... for the Year ..., Part 3, Issue 2

Michigan. Legislature - Michigan - 1889
...such bank ; but the discount of bills of exchange drawn in good faith against actually existing values and the discount of commercial or business paper actually...however, That the foregoing limitations shall not apply ProviŤo. to loans upon real estate or other collateral securities authorized by this act: Provided...
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