Annual Report of the Commissioner of the Banking Department of the State of Michigan |
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Page xxviii
... directors of a bank would be authorized to loan to any person , or company , or cor- poration , or firm , by a two - thirds vote of its board of directors , would not exceed one - fifth of the capital and surplus of the bank , and it ...
... directors of a bank would be authorized to loan to any person , or company , or cor- poration , or firm , by a two - thirds vote of its board of directors , would not exceed one - fifth of the capital and surplus of the bank , and it ...
Page xxxiv
... directors . the liabilities to any bank of any person or company or corporation or firm may be increased to a sum not exceeding one - fifth of the capital and surplus of bank . * * * It will be noted that in the case of a company or ...
... directors . the liabilities to any bank of any person or company or corporation or firm may be increased to a sum not exceeding one - fifth of the capital and surplus of bank . * * * It will be noted that in the case of a company or ...
Page xxxviii
... directors the authority to order , upon the requisition of the Commissioner of the Banking Department , to make good such deficiency , an assessment upon the capital stock of such bank for an amount exceeding 100 percent of such stock ...
... directors the authority to order , upon the requisition of the Commissioner of the Banking Department , to make good such deficiency , an assessment upon the capital stock of such bank for an amount exceeding 100 percent of such stock ...
Page xliv
... directors were named and their number was fixed by Article 7 ; that subsequently by amended articles filed February 12 , 1885 , the number of directors was fixed at 9 ; and later , after certificates had been filed under the new banking ...
... directors were named and their number was fixed by Article 7 ; that subsequently by amended articles filed February 12 , 1885 , the number of directors was fixed at 9 ; and later , after certificates had been filed under the new banking ...
Page xlv
... directors at the regular annual meeting in January , provides that the number of directors to be elected shall be regulated by a by - law prescribed by the board of directors , and provides further that said by - law may provide for the ...
... directors at the regular annual meeting in January , provides that the number of directors to be elected shall be regulated by a by - law prescribed by the board of directors , and provides further that said by - law may provide for the ...
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Common terms and phrases
00 Bonds borrowed 00 Cash 00 Commercial deposits 00 Furniture 00 Other real 00 Outside checks 00 Overdrafts 00 Total resources 00 Undivided profits Assistant Cashier banks and bankers banks in reserve bills rediscounted Bonds and Cert borrowed or left Capital stock paid cash items Cash on hand Cashier's checks certificates of deposit Certified checks Chas checks on banks clearing house Club savings deposits Commercial deposits subject deposits book account Dividends unpaid Due from banks Due from Federal Exchange for clearing Federal Reserve bank Furniture and fixtures house and checks Individual deposits subject left for safe legal reserve Loans and discounts moneys on deposit mortgages and securities NATIONAL BANK Postal savings deposits real estate reserve cities reserve with Federal Reserved for taxes safe keeping Savings deposits book securities and stocks Statement September 15 Stock of Federal subject to check Total liabilities U. S. Bds U. S. Bonds Vice President
Popular passages
Page xxviii - Our statute provides that in the discount of commercial or business paper actually owned by the person negotiating the same, it shall not be considered as money borrowed. The application of this provision, in my opinion, relates exclusively to the person negotiating the paper. The statute contemplates that
Page xxvii - shall at no time exceed one-tenth part of the amount of capital stock of such association actually paid In ; 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
Page xxxiv - 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 : * * • Provided, however. That by a two-thirds vote of directors, the liabilities to any bank of any person or company or corporation or firm
Page xxvii - surplus of such bank; 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
Page lxiv - the extent of the amount of the stock therein, at the par value thereof, in addition to the amount invested In such shares. To permit a trust company to purchase shares of its own capital stock would permit it to impair the security intended for the benefit of creditors. Trusting this will serve to furnish you with the desired information I am. Respectfully yours. AB
Page lxii - payment is made shall be a valid and sufficient release and discharge to said bank for all payments made on account of such deposits prior to the receipt by said bank of notice in writing not to pay such deposits In accordance with the terms thereof.
Page liii - This section provides In part as follows : (b) For borrowing money on the credit of the city in a sum not to exceed eight per centum of the assessed value of all real and personal property in the city • • » • when a city is authorized to acquire or operate any public utility, it may for the purpose of acquiring the
Page xliv - the manner In which Its stock shall be transferred, its directors and officers elected or appointed, its stockholders convened for special meetings, its property transferred. Its general business conducted and the privileges granted to It by law exercised and
Page xliv - Compiled Laws of 1897 as amended) provides In part that "the affairs of each bank shall be managed by a board of not less than five directors who shall be elected by the stockholders.
Page lxii - paid to either or the survivor of them, such deposits thereupon and any additions thereto, made by either of such persons, upon the making thereof, shall become the property of such persons as Joint tenants, and the same