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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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Laws Passed At... Session of the Legislative Assembly of the State of North ...

North Dakota - 1905 - 414 pages
...advance or debt be paid, shall not be considered as money borrowed, and such association may discount commercial or business paper actually owned by the person negotiating the same without it being deemed an addition to the loans to said negotiator. § 24. PENALTY FOR VIOLATIONS.]...
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International Library of Technology: A Series of ..., Volume 44, Part 2

1906 - 538 pages
...time exceed onetenth 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. 1 111. Associations Must Not Hold Their Own Stock (Sec....
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A Treatise on the Law of National and State Banks: Including the Clearing ...

Harvey White Magee - 1906 - 864 pages
...excess of 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 of the statute does not prohibit an officer...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1906 - 500 pages
...of the amount of the capital stock of such association actually paid in ; hut the discount of hills of exchange drawn in good faith against actually existing values, and the discount of commercial or husiness paper actually owned hy the person negotiating the same, shall not he considered as money...
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Annual Report [etc.] on State Banks, Mutual Savings Banks and ..., Issue 11

Wisconsin. Banking Dept - 1906 - 644 pages
...time exceed thirty per cent. of the amount of capital and surplus of such bank; but 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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The Statutes at Large of the United States from ..., Volume 34, Part 1

United States - 1907 - 1664 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." Approved, June 22, 1906. CHAP. 3617.—An Act For the...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1907 - 536 pages
...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 shall...
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Acts of the Legislature of West Virginia

West Virginia - 1907 - 710 pages
...per centum of ^the capital stock plus the surplus fund and undivided profits; but the discount (if bills of exchange drawn in good faith against actually...actually owned by the person negotiating the same, shall not be considered as money borrowed. The corporations mentioned in this section shall not be...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1908 - 586 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, as found in our General Banking Law and...
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Report of the Philippine Commission to the Secretary of War

United States. Philippine Commission (1899-1900) - 1908 - 462 pages
...of the bank, actually paid in and unimpaired, and one-tenth part of its unimpairedsurplus fund; 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. ARTICLE IX. Before making loans on precious metals, merchandise,...
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