Agricultural Credit ...U.S. Government Printing Office, 1914 |
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Common terms and phrases
amortization payments amount appointed appraised approval authorized bank bonds bill bonds secured thereby borrower BRANCH BANKS bureau of farm-land capital and surplus capital stock centum collateral trust bonds commercial banks commissioner of farm commissioner of farm-land Congress debt deeds of trust directors dividends exceed extent farmer Federal fiduciary agent Federal reserve act foreclosure gages Government held interest rates investor joint possession land land-bank bonds issued LAND-MORTGAGE OR LONG-TERM landschaft laws legal investment legislation liability limited ment mort mortgage banks mortgage credit mortgage loans mortgages or deeds national banking act national banking associations national farm national farm-land bank national land-bank bonds operation organization certificate paid par value postal savings deposits principal privileges rate of interest real estate recognized savings banks Secretary Section shareholders shares of stock specific power stockholders supervision tion Treasury trust funds UNITED STATES COMMISSION
Popular passages
Page 56 - ... in the hands of such executor, administrator, guardian or trustee, shall be liable in like manner and to the same extent as the testator or intestate or the ward or person interested in such trust fund would have been if he had been living and competent to act and hold the stock in his own name.
Page 56 - The shareholders of each association formed under the provisions of this act, and of each existing bank or banking association that may accept the provisions of this act, 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 55 - 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 55 - ... 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 54 - If no bidder can be found who will pay for such stock the amount due thereon to the association, and the cost of advertisement and sale, the amount previously paid shall be forfeited to the association, and such stock shall be sold as the directors may order, within six months from the time of such forfeiture ; and if not sold, it shall be cancelled and deducted from the capital stock of the association.
Page 48 - To prescribe, by its board of directors, by-laws not inconsistent with law, regulating the manner in which its stock shall be transferred, its directors elected or appointed, its officers appointed, its property transferred, its general business conducted, and the privileges granted to it by law exercised and enjoyed.
Page 44 - Congress at the commencement of its session — First. A summary of the state and condition of every association from whom reports have been received the preceding year, at the several dates to which such reports refer, with an abstract of the whole amount of banking capital returned by them, of the whole amount of their debts and liabilities...
Page 46 - That associations for carrying on the business of banking may be formed by any number of persons, not less in any case than five, who shall enter into articles of association, which shall specify in general terms the object for which the association is formed, and may contain any other provisions, not inconsistent with the provisions of this act, which the association may see fit to adopt for the regulation of the business of the association and the conduct of its affairs...
Page 52 - First. Such as shall be necessary for its immediate accommodation in the transaction of its business. Second. Such as shall be mortgaged to it in good faith by way of security for debts previously contracted.
Page 55 - 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...