 | Iowa, Emlin McClain - 1884 - 934 pages
...; provided, that the discount of bona fide bills of exchange drawn against actually existing value and the discount of commercial or business paper actually owned by the person or persons, corporation, or firm negotiating the same shall not be considered money borrowed. SEC.... | |
 | National Board of Trade (U.S.) - 1885 - 230 pages
...limitation which is placed upon the first part. The latter part of the section reads as follows : " But the discount of bills of exchange, drawn in good...same, shall not be considered as money borrowed." Now, although there is a limitation of ten per cent, of the capital of any National Banking Association,... | |
 | Vermont. General Assembly. Senate - 1886 - 416 pages
...consent of a majority of the directors; provided that the discount of dona fide bills of exchange, drawn against actually existing values and the discount of commercial or business paper, actually owned by such director, officer or employe negotiating the same, shall not be considered as money borrowed;... | |
 | A.S. Pratt & Sons - 1886 - 252 pages
...time 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...the same, shall not be considered as money borrowed. 44 excess of the limit would be in violation of the letter of the law. There is no specific penalty... | |
 | Illinois - 1887 - 360 pages
...shall at no time exceed one-tenth part of the amount of capital of such association actually paid in. But the discount of bills of exchange drawn in good...the same, shall not be considered as money borrowed. § 11. Associations may be organized under this act in incorporated towns, villages, or cities of not... | |
 | Illinois - 1887 - 2194 pages
...in. But the discount of bills of exchange drawn in gix>d faith, against actually existing values, aud the discount of commercial or business paper actually...the same, shall not be considered as money borrowed. 11. Capital stock — impairment thereof. §11. Associations may be organized under this act in incorporated... | |
 | Georgia - 1887 - 358 pages
...the discount of bills of exchange drawn in good faith and the discount of commercial paper actuallv owned by the person negotiating the same shall not be considered as borrowed money. Ineorporating tho Bank of Stewart County. surety, notes, mortgages and other evidences... | |
 | Illinois. General Assembly. Senate - 1888 - 1248 pages
...no time exceed one-tenth part of the amount of capital stock of such association actually paid in. But the discount of bills of exchange drawn, in good...same, shall not be considered as money borrowed." The question then being, "Shall the foregoing Senate Bill No. 251, be engrossed, as amended, and placed... | |
 | John Torrey Morse (Jr.) - 1888 - 712 pages
...§ 128. Kansas Valley Bank v. Rowell, 2 Dill. 371. 2 § 129. » See Ultra vires, Legislative Intent. discount of commercial or business paper actually...the same, shall not be considered as money borrowed. § 30. (5197.) Interest, what Rate may be taken.1 — Any association may take, receive, reserve, and... | |
 | Illinois - 1889 - 2184 pages
...at no time exceed one-tenth part of the, amount of capital of such association actually paid in. Hut the discount of bills of exchange drawn in good faith",...the same, shall not be considered as money borrowed. 11. Capital stock — impairment thereof. §11. Associations may be organized under this act in incorporated... | |
| |
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. 
