 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 of the Commissioner of Banks - Page xxxixby Massachusetts. Division of Banks and Loan Agencies - 1902Full view - About this book
 | William MacDonald - Charters - 1908 - 654 pages
...such association actually paid in: Provided, That the discount of bona fide bills of exchange drawn against actually existing values, and the discount...commercial or business paper actually owned by the person or persons, corporation, or firm negotiating the same shall not be considered as money borrowed. SEC.... | |
 | Michigan. Banking Division - Banks and banking - 1909 - 612 pages
...exceed one tenth part of the amount of the capital and surplus of such hank : hut the discount of hills of exchange drawn in good faith against actually existing values and the discount of commercial or husiness paper actually owned hy the lierson negotiating Ihe same shall not he considered as money... | |
 | Humphrey Robinson - Banks and banking - 1910 - 120 pages
...firm or individual and the amount so loaned must not exceed thirty per cent, of its capital alone. "But the discount of bills of exchange drawn in good...business paper actually owned by the person negotiating the same, shall not be considered as money borrowed." Also no National Bank can lend on its own stock... | |
 | Willis Seaver Paine - Banking law - 1910 - 874 pages
...such liabilities shall in no event exceed thirty per centum of the capital stock of the association. But the discount of bills of exchange drawn in good...business paper actually owned by the person negotiating the same shall not be considered as money borrowed." (As amended June 22, 1906.) 1. A loan made by... | |
 | United States. National Monetary Commission - Banking law - 1910 - 386 pages
...specific, and can not be evaded without fraud. The act says that the only exception shall be as follows : " The discount of bills of exchange drawn in good faith...commercial or business paper actually owned by the persons negotiating the same shall not be considered as money borrowed." Of course, those two terms... | |
 | Michigan. Banking Division - Banks and banking - 1910 - 652 pages
...partners, shall at no time exceed one-tenth part of the amount of the capital and surplus of such bank; but the discount of bills of exchange drawn in good...values and the discount of commercial or business paj>er actually owned by the person negotiating the same shall not be considered as money borrowed:... | |
 | Maine - 1910 - 1178 pages
...regarded as an original promissor. But the discount of bills of exchange drawn in good — exceptions. faith against actually existing values, and the discount...business paper actually owned by the person negotiating the same, shall not be considered as money borrowed. Provided, how- ~^I"ctio" °' ever, that any such... | |
 | Clarence Walker Barron - Banking law - 1914 - 232 pages
...such liabilities shall in no event exceed thirty per centum of the capital stock of the association. But the discount of bills of exchange drawn in good...business paper actually owned by the person negotiating the same shall not be considered as money borrowed. Sec. 5201. ASSOCIATIONS MUST NOT LOAN ON OR PURCHASE... | |
 | William Mark McKinney, Burdett Alberto Rich - Law - 1914 - 1424 pages
...such liabilities shall in no event exceed thirty per centum of the capital stock of the association. But the discount of bills of exchange drawn in good...business paper actually owned by the person negotiating the same, shall not be considered as money borrowed." Similar statutes exist in many of the states.... | |
 | Curtis Hillyer - Civil procedure - 1914 - 1628 pages
...such liabilities shall in no event exceed thirty per centum of the capital stock of the association. e the same shall not be considered as money borrowed. 139. Associations must not Loan on or Purchase... | |
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