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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... "
Annual Report of the Commissioner of the Banking Department of the State of ... - Page xxvii
by Michigan. Banking Division - 1926
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Gold and Debt: An American Hand-book of Finance, with Over Eighty Tables and ...

William Lyman Fawcett - 1877 - 288 pages
...the capital stock of such association actually paid in. But the discount of bills of exchange drawn m good faith against actually existing values, and the...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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Acts of the State of Ohio

Ohio - 1877 - 650 pages
...of such company actually paid in; provided, that the discount of 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 money borrowed. SEC....
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Acts of the State of Ohio

Ohio - 1879 - 366 pages
...of such company actually paid in: provided, that the discount of bona fide Dills 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 money borrowed. SEC....
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Laws, Joint Resolutions, and Memorials, Passed at the ... Session of the ...

Nebraska - 1889 - 724 pages
...or corporation exceed fifty (50) per cent. of the paid up capital of" said bank or corporation. But the discount of bills of exchange drawn in good faith...actually existing values, and the discount of commercial paper actually owned by the person negotiating the same, shall not be considered as money borrowed....
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The National-Bank Act and Other Laws Relating to National Banks, from the ...

United States - 1889 - 120 pages
...i^ a l Ktoc ^ of such association actually paid in. But the dis etc., not » loan. conn t o f ijiiis o f exchange drawn in good faith against actually existing values, and the discount of commercial от business paper actually owned by the person negotiating the same, shall not be considered as money...
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Acts of the General Assembly of the Commonwealth of Kentucky, Passed, Volume 1

Kentucky - 1890 - 1454 pages
...time exceed one-tenth part of the amount of the capital stock actually paid in ; but the discounting of bills of exchange drawn in good faith against actually existing values, and the discount of commercial paper, or business paper actually owned by the person negotiating the same, shall not be considered...
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Annual Report of the Commissioner of the Banking Department of the ..., Volume 2

Michigan. Banking Division - 1891 - 178 pages
...partners, shall at no time exceed one-tenth part of the amount of the capital and surplus of such bank; 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: Provided, however, That the foregoing limitations proviso....
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Journal of the Senate of the General Assembly, Part 37

Illinois. General Assembly. Senate - 1891 - 1328 pages
...clause 7th, at lino 28, the following; words: "And, provided furtlier, "that the discount of bills o! exchange drawn in good faith, against actually existing...commercial or business paper actually owned by the person, firm, company or corporation negotiating the same, shall not he considered as prohibited by this section."...
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Laws Passed at the 1st- Session of the Legislature of the State of South ...

South Dakota - 1891 - 388 pages
...agajnst actual existing values or loans upon produce in transit or in store as collateral security and the discount of commercial or business paper actually owned by the person negotiating the same shall not be considered as money borrowed. § 23. PENALTIES FOR VIOLATION OF ACT.] Any person or persons...
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Congressional Serial Set

1892 - 1046 pages
...of the amount of the capital stock of euch association actually paid in. Hut the discount of bille of exchange drawn in good faith against actually existing...paper actually owned by the person negotiating the eamo, shall not bo considered as money borrowed. This limitation is found to be wholesome in its general...
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