 | 1883 - 876 pages
...any portion of its own stock, or of the capital stock of any other incorporated company, unless such purchase shall be necessary to prevent loss upon a debt previously contracted, in good faith, on security which at the time was deemed adequate to insure the payment of such stock independent of... | |
 | United States. Supreme Court - 1883 - 1004 pages
...of the counts under consideration to aver that the purchase of the shares of the association was not necessary to prevent loss upon a debt previously contracted in good faith is a fatal defect. These counts merely charge that the defendant willfully misapplied the funds of... | |
 | 1913 - 1236 pages
...noto, 61 LRA 621. As to a banking corporation, the statutory provision is that "no bank shall * * * be the purchaser or holder of any such shares unless...its purchase, be sold or disposed of at public or privüte sale. After the expiration of six months any such stock shall not be considered as a part... | |
 | 1884 - 1126 pages
...security of the shares of its own capital stock, and prohibit, also, every bank from purchasing or holding any such shares, unless such security or purchase...loss upon a debt previously contracted in good faith. Surely an implication is inadmissible which contradicts either the letter or the spirit of the act.... | |
 | 1901 - 1164 pages
...the stock of any other bank or corporation, nor make any loans or discounts mi the security of the shares of Its own capital stock, nor be the purchaser...holder of any such shares unless such security or purchas.shall he necessary to prevent loss upon a debt previously contracted In good faith; and stork... | |
 | 1918 - 1212 pages
...the federal act is as follows: "No association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of auy such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previouly... | |
 | Virginia. Supreme Court of Appeals - 1885 - 770 pages
...organ ized, provides : " That no association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such stock, unless such security or purchase shall he necessary to prevent loss on a debt previously contracted... | |
 | A.S. Pratt & Sons - 1886 - 252 pages
...own Stock.> SECTION 5201. — No association shall make any loan 0r discount on the security of the shares of its own capital stock, nor be the purchaser...be sold or disposed of at public or private sale, or, in default thereof, a receiver may be appointed to close up the business of the association, according... | |
 | Michigan - 1887
...stockholders. No bank shall be the holder or purchaser of any portion of its capital stock unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith. Stock so purchased shall in no case be held by the bank for a longer time than six months, if the stock... | |
 | John Torrey Morse (Jr.) - 1888 - 712 pages
...purchase their own Stock.1 — No association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser...purchase, be sold or disposed of at public or private sale ; or, in default thereof, a receiver may be appointed to close up the 1 § 135. Bank». Lanier, 11... | |
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No association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted... 
