The Federal Farm Loan Act as Amended to January 1, 1924U.S. Government Printing Office, 1924 - 34 pages |
Common terms and phrases
agents application appointed appraisal approval assessment association or bank associations and borrowers board of directors borrower through agencies branch bank capital stock centum per annum collateral security coupon default deposits discretion dividends election employees examiners exceed farm land qualified Farm Loan Act farm loan association Farm Loan Board Farm Loan Commissioner farm loan registrar Federal Farm Loan Federal land bank five per centum forthwith gages Government bonds indorsed issue of farm joint stock land land bank district land bank organized loan bonds issued loan committee mort mortgages and bonds mortgages on farm national farm loan number of votes organization certificate outstanding paid payable person prescribed president principal purchase qualified under section rate of interest receive reserve account rules and regulations Secretary secretary-treasurer section twelve serve till December shareholders stock held stock land bank subscribe surety bonds thereof tion twenty per centum United States Government
Popular passages
Page 13 - ... 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 31 - That if any person 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 note, in imitation of, or purporting to be...
Page 34 - That if any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
Page 6 - 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; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin and bullion; by loaning money on personal security...
Page 31 - Other than the usual salary or director's fee paid to any officer, director, or employee of a member bank and other than a reasonable fee paid by said bank to such officer, director, or employee for services rendered to such bank, no officer, director, employee, or attorney of a member bank shall be a beneficiary of or receive, directly or indirectly, any fee, commission, gift, or other consideration...
Page 32 - Currency, or from the board of directors of such bank, except when ordered to do so by a court of competent jurisdiction, or by direction of the Congress of the United States, or of either House thereof, or any committee of Congress or of either House duly authorized. Any person violating any provision of this section shall be punished by a fine of not exceeding $5,000 or by imprisonment not exceeding one year, or both.
Page 5 - State in which said bank is to be located, the amount of capital stock and the number of shares into which the same is divided, the name and place of doing business of each bank executing such certificate, and of all banks which have subscribed to the capital stock of...
Page 1 - An act to provide capital for agricultural development, to create standard forms of investment based upon farm mortgage, to equalize rates of interest upon farm loans, to furnish a market for United States bonds, to create government depositories and financial agents for the United States, and for other purposes.
Page 32 - ... issues or puts forth any certificate of deposit, draws any order or bill of exchange, makes any acceptance, assigns any note, bond, draft, bill of exchange, mortgage, judgment, or decree; or who makes any false entry in any book, report...
Page 9 - Treasury shall require the associations thus designated to give satisfactory security, by the deposit of United States bonds and otherwise, for the safe-keeping and prompt payment of the public money deposited with them, and for the faithful performance of their duties as financial agents of the Government...