 | Michigan. Banking Division - 1910 - 652 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." This provision, a.« found in our General Hanking Law and... | |
 | United States - 1910 - 828 pages
...capital stock of such association actually paid in. But the discount of bills of exchange drawn in grood faith against actually existing values, and the discount...actually owned by the person negotiating the same, shall not be considered as money borrowed. SEC. 5201. No association shall make any loan or dis- Associations... | |
 | United States - 1910 - 886 pages
...actuil ^. v P a ^ ^ n: Provided, That the discount of be included, bona fide bills of exchange drawn against actually existing values, and the discount...commercial or business paper actually owned by the person or persons, corporation, or firm negotiating the same shall not be considered as money borrowed. terelt... | |
 | United States - 1911 - 184 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. ASSOCIATIONS MUST NOT LOAN ON OR PURCHASE THEIR OWN STOCK.... | |
 | 1959 - 732 pages
...of exchange drawn in good faith against actually existing values; (2) to obligations arising out of the discount of commercial or business paper actually owned by the person negotiating the same; (3) to the liability of a customer on account of an acceptance made by the Corporation for his account... | |
 | 1972 - 762 pages
...limitation of 10 per centum shall be subject to the following exceptions:] (2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnershlp, association,or corporation negotiating the same shall not be subject under this section... | |
 | 1967 - 798 pages
...limitation of 10 per centum shaU be subject to the following exceptIons:¿ (2) OblIgations arising out of the discount of commercial or business paper actually owned by the person, copartnersbtp, assoclatlon.or corporation negotiating the same shall not be subject under this section... | |
 | 1975 - 828 pages
...limitation of 10 per centum shall be subject to the following exceptions:) (2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnership, association, or corporation negotiating the same shall not be subject under this section... | |
 | 1979 - 1462 pages
...this section to any limitation based upon such capital and surplus. (2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnership, association, or corporation negotiating the same shall not be subject under this section... | |
 | United States. Congress. Senate. Committee on Rules and Administration - 1952 - 892 pages
...to a sum not in excess of 50 per cent of the capital and surplus of such bank. (3) The discounting of bills of exchange drawn in good faith against actually existing values and the discounting of commercial or business paper actually owned by the person negotiating the same shall... | |
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to destroy the force and effect of the limitation Itself. The exceptions to which I refer relate to the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper, actually owned... 
