Annual Report of the Commissioner of the Banking Department of the State of Michigan

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Page xxvi - But 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, shall not be considered as money borrowed.
Page xxxi - Banking may apply to any court of competent jurisdiction for the appointment of a receiver to wind up the affairs of such...
Page xlv - No bank or bank officer shall give preference to any depositor or creditor by pledging the assets of the bank as collateral security...
Page lxxv - A person placing his signature upon an instrument otherwise than as maker, drawer or acceptor is deemed to be an indorser, unless he clearly indicates by appropriate words his intention to be bound in some other capacity.
Page lxxv - Every negotiable instrument is deemed prima facie to have been issued for a valuable consideration; and every person whose signature appears thereon to have become a party thereto for value.
Page lxxii - 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. Third. Such as shall be conveyed to it in satisfaction of debts previously contracted in the course of its dealings.
Page xlv - Territories thereof; but five per centum of such funds shall be withdrawn by the board of trustees and kept with the Treasurer of the United States, who shall be treasurer of the board of trustees, in lawful money as a reserve.
Page lxi - Any vacancy in the board of directors shall be filled by the board, and the directors so appointed shall hold office until the next election.
Page lv - 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...
Page lxxv - primarily" liable on an instrument is the person who by the terms of the instrument is absolutely required to pay the same. All other parties are "secondarily

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