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" No association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted... "
Public Acts and Joint and Concurrent Resolutions of the Legislature of the ... - Page 19
by Michigan - 1891
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Acts of the State of Ohio

Ohio - 1851 - 196 pages
...purchaser of any portion of its capital stock, or of the capital stock of any other incorporated company, unless such purchase shall be necessary to prevent...loss upon a debt previously contracted in good faith, on security which, at the time, was deemed adequate to insure the payment of such debt, independent...
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Public and Local Acts of the Legislature of the State of Michigan, Volume 2

Michigan - 1857 - 1012 pages
...,/.,'. , , nor hold its own stock of any other incorporated company, unless such purchase •tock. shall be necessary to. prevent loss upon a debt previously contracted in good faith, on security which at the time was deemed adequate to insure the payment of such debt, independent of...
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The Compiled Laws of the State of Michigan: Published by Authority, Part 2

Michigan, Thomas McIntyre Cooley - 1857 - 998 pages
...¡tsonrn stock of any other incorporated company, unless such purchase or other Capital ,,,, ч ii • ^T shall be necessary to prevent loss upon a debt previously contracted in good faith, on security which at the time was deemed adequate to insure the payment of such debt, independent of...
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Public and Local Acts of the Legislature of the State of Michigan

Michigan - 1857 - 686 pages
...deemed adequate tostock' insure the payment of such debt, independent of any lien upon such stock ; and stock so purchased shall in no case be held by the bank so purchasing for a longer period of time than six months, if the same can be sold for what the stock...
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Laws Enacted in the General Assembly of the Commonwealth of Pennsylvania ...

Pennsylvania. Laws, statutes, etc - 1860 - 994 pages
...portion of its capital, or of the capi•apiui stock of ta' stoc'c °f any other incorporated bank, unless such purchase shall be necessary to prevent...loss upon a debt previously contracted in good faith, on security, which at the time was deemed adequate to insure the payment of such debt, independent...
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The Merchants' Magazine and Commercial Review, Volume 48

1863 - 512 pages
...holder of any portion of its capital stock, or of the capital stock of any other incorporated company, unless such purchase shall be necessary to prevent...loss upon a debt previously contracted in good faith, on security which, at the time, was deemed adequate to insure the payment of such debt, independent...
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The Merchants' Magazine and Commercial Review, Volume 48

William B. Dana - 1863 - 508 pages
...holder of any portion of its capital stock, or of the capital stock of any other incorporated company, unless such purchase shall be necessary to prevent...loss upon a debt previously contracted in good faith, on security which, at the time, was deemed adequate to insure the payment of such debt, independent...
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Journal: 1st-13th Congress . Repr. 14th Congress, 1st Session ..., Volume 1

United States. Congress. House - 1863 - 1180 pages
...of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith; and stock so purchased or acquired shall, within six months from the time of its purchase, be sold...
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THE AMERICAN ANNUAL CYCLOPAEDIA

1864 - 878 pages
...holder of any portion of its capital stock, or of the capital stock of any other incorporated company, unless such purchase shall be necessary to prevent...loss upon a debt previously contracted in good faith, on security which, at the time, was deemed adequate to insure the payment of such debt, independent...
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American Slavery and Finances, Volumes 1-9

Robert John Walker - 1864 - 406 pages
...portion of its capital stock, or forbidden. of the capital stock of any other incorporated company, unless such purchase shall be necessary to prevent...loss upon a debt previously contracted in good faith, or security which, at the time, was deemed adequate to insure the payment of such debt, independent...
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