Annual Report of the Commissioner of the Banking Department of the State of Michigan |
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Page xxxiv
... MORTGAGES NOT TO BE DEPOSITED WITH COLLATERAL DEPOSIT COMPANIES . October 12 ... mortgages may be deposited with collateral deposit ... security consisting of personal property or securities of known marketable Xxxiv STATE BANKING DEPARTMENT.
... MORTGAGES NOT TO BE DEPOSITED WITH COLLATERAL DEPOSIT COMPANIES . October 12 ... mortgages may be deposited with collateral deposit ... security consisting of personal property or securities of known marketable Xxxiv STATE BANKING DEPARTMENT.
Page xxxv
Michigan. Banking Division. security consisting of personal property or securities of known marketable value worth ten per cent more than the amount so loaned and interest for the time of the loan ; or may be invested in notes , bills or ...
Michigan. Banking Division. security consisting of personal property or securities of known marketable value worth ten per cent more than the amount so loaned and interest for the time of the loan ; or may be invested in notes , bills or ...
Page xxxviii
... SECURITIES . October 28 , 1911 . Hon . Edward H. Doyle , Commissioner of ... mortgages with a state department or official , in either one or all of the ... securities made with the State Auditor of Illinois could not be used for the ...
... SECURITIES . October 28 , 1911 . Hon . Edward H. Doyle , Commissioner of ... mortgages with a state department or official , in either one or all of the ... securities made with the State Auditor of Illinois could not be used for the ...
Page xxxix
... securities made pursuant to the Illinois statute is paid to the depositing ... mortgages . By the terms of that While these contracts may under our ... securities of known market- able value , worth ten per cent more than the amount so ...
... securities made pursuant to the Illinois statute is paid to the depositing ... mortgages . By the terms of that While these contracts may under our ... securities of known market- able value , worth ten per cent more than the amount so ...
Page lxv
... loan money upon real estate and collateral security , and to execute and issue its note and debentures , pay- able at a future date , and to pledge its mortgages or real estate and other securities as Under section 8054 of the Compiled ...
... loan money upon real estate and collateral security , and to execute and issue its note and debentures , pay- able at a future date , and to pledge its mortgages or real estate and other securities as Under section 8054 of the Compiled ...
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Common terms and phrases
00 Bonds borrowed 00 Cash 00 Commercial deposits 00 Furniture 00 Other real 00 Overdrafts 00 Total 00 U. S. bonds 00 Undivided profits Assistant Cashier banks and bankers banks in reserve Bonds and Cert borrowed or left Capital stock paid cash items Cash on hand Cashier's checks certificates of deposit certificates of indebted Certified checks checks on banks clearing house Club savings deposits Commercial deposits subject Corporate existence extended deposits book account Dividends unpaid Due from banks Due from Federal Exchange for clearing Federal Reserve bank Furniture and fixtures house and checks Individual deposits subject left for safe legal reserve Liabilities Loans and discounts moneys on deposit mortgages and securities NATIONAL BANK Postal savings deposits real estate reserve cities reserve with Federal Reserved for taxes safe keeping SAVINGS BANK Savings deposits book securities and stocks Statement September 28 Stock of Federal subject to check trust company Vice President
Popular passages
Page xxvii - to destroy the force and effect of the limitation Itself. The exceptions to which I refer relate to 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, and which. In my opinion, should he strictly construed
Page lv - shall be necessary to carry on the business of banking by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debts, by receiving deposits, by buying and selling exchange coin and bullion, and by loaning money on personal and real security as provided hereinafter." These are the usual powers granted to hanks in carrying on a
Page xlii - All such powers as shall be necessary to carry on the business of banking by discounting and negotiating promissory notes, drafts, bills of exchange or other evidences of debt, by If a trust company sought to exercise all or
Page lv - Attention is particularly directed to the seventh subdivision of this section, reading as follows: "To exercise by its board of directors or duly authorized officers or agents, subject to law, all such power
Page xliv - Section 12 of the present law (Section 6101. Compiled Laws of 1897 as amended) provides in part that the affairs of each bank shall be managed by a board of not less than five directors who shall be elected by the stockholders.
Page xxxvii - necessary for a corporation to purchase and hold, shares of stock in a state bank except as such stock might be taken in payment of debts in good faith owing to the corporation. "The word 'person' may extend and be applied to bodies politic and corporate as well as to individuals.
Page xlix - the liabilities of the company or firm, the liabilities of the several members thereof, except special partners, shall at no time exceed one-tenth part of the amount of the capital and surplus of such bank, etc." In reply thereto would say it is believed
Page xliv - not Inconsistent with law, regulating the manner in which its stock shall be transferred, its directors and officers elected or appointed, its stockholders convened for special meetings, its property transferred. Its general business conducted and the privileges granted to It by law exercised and enjoyed." ||Fifth. To elect or appoint directors * * *" As the certificate filed by the Wayne County Savings Bank under section
Page lvi - of Article 12 of the Constitution provides: "No general law providing—for the incorporation of trust companies or corporations for banking purposes, or regulating the business thereof, shall be adopted, amended or repealed except by a vote of two-thirds of the members elected to each house of the legislature
Page lxvi - capacity from the general assets of the bank and shall keep a separate set of books and records showing in proper detail all transactions engaged in under authority of this sub-section. Such books and records shall be open to inspection by the State authorities to the same extent as the