Rural Credits System for the United StatesPhelps Publishing Company, 1922 - 240 pages |
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Common terms and phrases
advance agricultural business agricultural loans agricultural products agricultural purposes amended amount applied approved assets asso authorized bentures borrower capital stock co-operation co-operative association collateral commodity paper credit instruments Custodian debentures issued debts deposits discount drafts eral debenture bank exceeding farm loan bonds Farm Loan System farm property farmers Federal Co-operative Bank Federal Deben Federal Debenture Bank Federal Farm Loan federal land bank Federal Reserve Act Federal Reserve Bank Federal Reserve Board Federal Reserve System Federal Rural Credits Finance Corporation funds incorporated indorsement initial capital institution interest invest liability live stock loan live stock paper marketing maturity member banks ment national banks operative paid pany paper or real prescribed principal proposed real estate obligations rediscount Rural Credits Board Rural Credits Company Rural Credits System second mortgages Section six months surety bonds surplus term thereof tion tive Treasury ture bank United War Finance Corporation
Popular passages
Page 206 - The shareholders of every national banking association 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 209 - Comptroller, shall take possession of the books, records, and assets of every description of such association, collect all debts, dues, and claims belonging to it, and, upon the order of a court of record of competent jurisdiction, may sell or compound all bad or doubtful debts, and, on a like order, may sell all the real and personal property of such association, on such terms as the court shall direct; and may, if necessary to pay the debts of such association, enforce the individual liability...
Page 208 - On becoming satisfied, as specified in sections fifty-two hundred and twenty-six and fifty-two hundred and twenty-seven, that any association has refused to pay its circulating notes as therein mentioned, and is in default, the Comptroller of the Currency may forthwith appoint a receiver, and require of him such bond and security as he deems proper.
Page 173 - To exercise by its board of directors or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking...
Page 205 - Library ," by which name, they, and their successors, may sue and be sued, plead and be impleaded, contract and be contracted with...
Page 213 - Any person who shall falsely make, forge, or counterfeit, or cause or procure to be falsely made, forged, or counterfeited, or willingly aid or assist in falsely making, forging, or counterfeiting any...
Page 224 - Nothing in this Act contained shall be construed to prohibit such notes, drafts, and bills of exchange, secured by staple agricultural products, or other goods, wares, or merchandise from being eligible for such discount...
Page 213 - States; or any person who shall pass, utter, or publish, or attempt to pass, utter, or publish any false, forged, or counterfeited...
Page 223 - Federal reserve bank may discount notes, drafts, and bills of exchange arising out of actual commercial transactions; that is, notes, drafts, and bills of exchange issued or drawn for agricultural, industrial, or commercial purposes, or the proceeds of which have been used, or are to be used, for such purposes...
Page 208 - Said examiners shall be subject to the same requirements, responsibilities and penalties as are applicable to national bank examiners under the national bank Act, the Federal Reserve Act and other provisions of law. Whenever directed by the Federal Farm Loan Board...