Legislative Document, Volume 1, Issues 1-5

Front Cover
J.B. Lyon Company, 1919

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Page 606 - Each director, when appointed or elected, shall take an oath that he will, so far as the duty devolves on him, diligently and honestly administer the affairs of such association, and will not knowingly violate, or willingly permit to be violated, any of the provisions of this Title...
Page 606 - Title, and that he is the owner in good faith, and in his own right, of the number of shares of stock required by this...
Page 12 - In passing upon applications for permission to exercise the powers enumerated in this subsection, the Federal Reserve Board may take into consideration the amount of capital and surplus of the applying bank, whether or not such capital and surplus is sufficient under the circumstances of the case, the needs of the community to be served, and any other facts and circumstances that seem to it proper, and may grant or refuse the application accordingly: Provided, That no permit shall be issued to any...
Page 595 - ... shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein at the par value thereof, in addition to the amount invested in such shares...
Page 609 - The annual meeting of the corporation shall be held at such time and place as the by-laws prescribe.
Page 60 - ... at a special term of the supreme court held in and for the judicial district in which the principal business office of the corporation is located.
Page 593 - Such as shall be conveyed to it in satisfaction of debts previously contracted in the course of its dealings. Fourth. Such as it shall purchase at sales under judgments, decrees or mortgages held by the association, or shall purchase to secure debts due to it.
Page 12 - It shall be unlawful for any national banking association to lend any officer, director, or employee any funds held in trust under the powers conferred by this section. Any officer, director, or employee making such loan, or to whom such loan is made, may be fined not more than $5,000, or imprisoned not more than five years, or may be both fined and imprisoned, in the discretion of the court.
Page 610 - The verification shall state that the report is true and correct in all respects to the best of the knowledge and belief of the persons verifying it, and that the usual business of the credit union has been transacted at the location required by this article and not elsewhere.
Page 552 - ... shall equal or exceed in amount one-third of the par value of all its bonded indebtedness; and further provided that all bonds...

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