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" 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. "
Annual Report of the Commissioner of the Banking Department of the State of ... - Page xxviii
by Michigan. Banking Division - 1914
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Laws of the State of New York, Volume 1

New York (State) - 1896 - 1294 pages
...thereon, nor to the discount of bills of exchange drawn in good faith against actually existing values, or of commercial or business paper actually owned by the person negotiating the same, provided, however, that such loans or discounts on such collateral, OB ( such discount of bills of...
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Laws of the State of New York, Volumes 1-2

New York (State) - 1927 - 2256 pages
...are upon drafts or bills of exchange drawn in good faith against actually existing values, or upon commercial or business paper actually owned by the person negotiating the same to such bank, and are endorsed by such person without limitation, or provided such liabilities in excess...
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Report of the Attorney General

Massachusetts. Attorney General's Office - 1901 - 240 pages
...one-fifth part of such amount of the capital stock of this corporation as is actually paid up. But the discount of bills of exchange drawn in good faith...actually owned by the person negotiating the same, shall not be considered as money borrowed." I am of the opinion that, in view of the prohibition of...
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Report of the Attorney General

Massachusetts. Attorney General's Office - 1919 - 180 pages
...exceed one fifth of such amount of the capital stock of the corporation as is actually paid up; but the discount of bills of exchange drawn in good faith...business paper actually owned by the person negotiating it, shall not be considered as money borrowed. .The total liabilities to any one such corporation of...
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Public Documents of Massachusetts, Issue 7, Part 1 - Issue 8, Part 1

Massachusetts - 1893 - 1064 pages
...one-fifth part of such amount of the capital stock of this corporation as is actually paid up. But the discount of bills of exchange drawn in good faith...actually owned by the person negotiating the same, shall not be considered as money borrowed. SECT. 18. Such corporation may hold real estate suitable...
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Public Documents of Massachusetts, Volume 6

Massachusetts - 1902 - 1224 pages
...exceed one-fifth of such amount of the capital stock of the corporation as is actually paid up ; but the discount of bills of exchange drawn in good faith...business paper actually owned by the person negotiating it, shall not be considered as money borrowed. SECTION 35. Such corporation may hold real estate May...
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Official Opinions of the Attorneys General of the United States: Advising ...

United States. Department of Justice - 1909 - 732 pages
...liabilities shall in no event exceed thirty per centum of the capital stock of the association. But the discount of bills of exchange drawn in good faith...actually owned by the person negotiating the same, shall not be considered as money borrowed." Section 5202, Revised Statutes, enacts : " No association...
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Statutes of the United States of America

United States - 1917 - 706 pages
...bank or trust company, but the discount of bills of exchange drawn against actually existing value and the discount of commercial or business paper actually owned by the person negotiating the same shall not be considered as borrowed money within the meaning of this section. r.,» req ,р^е pecierai...
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Gold and Debt: An American Hand-book of Finance, with Over Eighty Tables and ...

William Lyman Fawcett - 1876 - 300 pages
...exceed one-tenth part of the amount of the capital stock of such association actually paid in. But the discount of bills of exchange drawn in good faith...actually owned by the person negotiating the same, shall not be considered as money borrowed. (SEC. 5201.) No association shall make any loan or discount...
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Annual Report of the Secretary of the Treasury on the State of the Finances ...

United States. Department of the Treasury - 1918 - 836 pages
...cent of the capital and surplus under section 5200, United States Revised Statutes, does not apply to "bills of exchange drawn in good faith against actually...actually owned by the person negotiating the same. " It is suggested that the aggrgate liability of any person, company, corporation, or firm on loans...
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