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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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Hearings on S. Res. 301: Hearings Before a Select Committee to ..., Parts 1-2

United States. Congress. Senate. Select Committee to Study Censure Charges - 1954 - 1082 pages
...limitation of thjrfty per cent in addition to the limitation hereinbefore stated, and 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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United States Supreme Court Reports, Volume 64

United States. Supreme Court - 1920 - 996 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." 64 b. ed. The pertinent portion of the other section reads...
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Cases Argued and Decided in the Supreme Court of the United ..., Volumes 251-253

United States. Supreme Court - 1921 - 1362 pages
...shall in no event cxceed thirty per centum of the capital stock of the association] . But the disfount of bills of exchange drawn in good faith against actually existing values, and the diséount of commercial or business paper actually owned by the person negotiating the same, shall...
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Federal Reserve Act, 1913: McFadden Act, 1927; Banking Act of 1933, Banking ...

United States Congress. House. Banking and Currency Committee - 1958 - 908 pages
...per centum of the unimpaired capital and surplus of said bank; but this restriction shall not apply to the discount of bills of exchange drawn in good faith against actually existing values. Any member bank may accept drafts or bills of exchange drawn upon it and growing out of transactions...
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Member Bank Reserve Requirements, Hearings Before ...,86-1 OnS.860 AndS.1120 ...

United States. Congress. Senate. Banking and Currency Committee, United States. Congress. Senate. Committee on Banking and Currency - 1959 - 260 pages
...shall not at any time exceed ten percent of the capital and surplus of such bank or trust company ; but the discount of bills of exchange drawn in good faith...values and the discount of commercial or business paper of solvent parties, actually owned by the person negotiating the same, shall not be considered as money...
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Member Bank Reserve Requirements: Hearings Before Subcommittee No. 2 of the ...

United States. Congress. House. Committee on Banking and Currency - 1959 - 344 pages
...shall not at any time exceed ten percent of the capital and surplus of such bank or trust company; but the discount of bills of exchange drawn in good faith...values and the discount of commercial or business paper of solvent parties, actually owned by the person negotiating the same, shall not be considered as money...
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National Bank Amendments: Hearings Before Subcommittee No.2 of the Committee ...

United States. Congress. House. Committee on Banking and Currency. Subcommittee No. 2, United States. Congress. House. Committee on Banking and Currency - 1959 - 84 pages
...percent of the unimpaired surplus fund. Limitation does not apply to— (1) Obligations arising out of the discount of commercial or business paper actually owned by the person negotiating same. loaned when the value is 115 percent. An additional 5 percent may be loaned for each 5 percent...
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National Bank Amendments: Hearings Before Subcommittee No. 2 of ... , 86-1 ...

United States Congress. House. Banking and Currency Committee - 1959 - 84 pages
...percent of the unimpaired surplus fund. Limitation does not apply to(1) Obligations arising out of the discount of commercial or business paper actually owned by the person negotiating same. (2) Obligations secured by shipping documents, warehouse receipts, or other such documents transferring...
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United States Congressional Serial Set, Issue 12152

1959 - 1410 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...
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United States Congressional Serial Set, Issue 12161

1959 - 1256 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...
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