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" But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by the person negotiating the same, shall not be considered as money borrowed. "
Annual Report of the Commissioner of the Banking Department of the State of ... - Page xxvii
by Michigan. Banking Division - 1913
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Revisal of 1905 of North Carolina: Prepared Under Chapter Three ..., Volume 1

North Carolina, Thomas Brown Womack, Needham Y. Gulley, William R. Rodman - 1905 - 1412 pages
...But the discount of bills of exchange drawn in good faith against actually existing values and the 1 2< H hUK M6: 7 %u a w s' = t d9P| G % h <}G} y Ay ձ ٸ$ W0 yG This section shall not apply to banks with a paid-up capital of one hundred thousand dollars or less....
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1905 - 448 pages
...paper actually owned hy the person negotiating the same shall not he considered as money horrowed: Provided however, That the foregoing limitations shall...real estate or other collateral securities authorized hy this act. Provided, however, That hy a two-thirds vote of the directors the liahilities of any hank...
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Laws of the State of New York, Volume 1; Volume 128, Part 1

New York (State) - 1905 - 1280 pages
...nor to the discount of bills of exchange drawn in good faith against actually existing values, nor to commercial or business paper actually owned by the person negotiating the same, provided, however, that the total liability of any person, company, corporation or firm shall not exceed...
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International Library of Technology: A Series of ..., Volume 44, Part 2

1906 - 538 pages
...But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually...the same shall not be considered as money borrowed. 111. Associations Must Not Hold Their Own Stock (Sec. 5201). -No association shall make any loan or...
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Reports of the Condition of the State, Private and Savings Banks

North Carolina. Corporation Commission - 1906 - 112 pages
...But the discount of bills of exchange drawn in good faith against actually existing values and the discount of commercial or business paper actually...the same shall not be considered as money borrowed. This section shall not apply to banks with a paid-up capital of one hundred thousand dollars or less....
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Principles of Law: Appendix

1906 - 534 pages
...But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually...the same shall not be considered as money borrowed. 111. Associations Must Not Hold Their Own Stock (Sec. 5201). —No association shall make any loan...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1906 - 500 pages
...paper actually owned hy the person negotiating the same shall not he considered as money horrowed : Provided, however. That the foregoing limitations...real estate or other collateral securities authorized hy this act. Provided, however. That hy a two-thirds vote of the directors the liahilities of any hank...
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A Treatise on the Law of National and State Banks: Including the Clearing ...

Harvey White Magee - 1906 - 864 pages
...But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually...owned by the person negotiating the same, shall not be regarded as money borrowed." The purpose of this section is to prohibit any bank from loaning its funds...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1906 - 474 pages
...The borrower may be the maker or the endorser. Pratt's Digest, 94. Our statute provides that in the discount of commercial or business paper actually owned by the person negotiating the same, it shall not be considered as money borrowed: The application of tbis provision, in my opinion, relates...
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Documents of the Assembly of the State of New York, Issues 47-50

New York (State). Legislature. Assembly - 1906 - 1610 pages
...except the discount of bills of exchange drawn in good faith against actual and existing values, or of commercial or business paper actually owned 'by the person negotiating the same, provided, that such loans or discounts on such collateral, or such discounts of bills of exchange,...
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