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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 147
by Michigan. Banking Division - 1891
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Official Gazette, Volume 76, Issues 31-34

Philippines - 1980 - 838 pages
...additional charges or advances made by the bank to protect its interest such as taxes, insurance, etc.; (c) The discount of bills of exchange drawn in good faith...actually owned by the person negotiating the same, including but not limited to the acquisition by a domestic bank of export bills from any of its directors,...
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Public Documents of Massachusetts, Volume 6

Massachusetts - 1902 - 1224 pages
...time exceed one-fifth of such amount of the capital stock of the corporation as is actually paid up ; but the discount of bills of exchange drawn in good...business paper actually owned by the person negotiating it, shall not be considered as money borrowed. SECTION 35. Such corporation may hold real estate May...
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Report of the Corporation Commission

North Carolina. Corporation Commission - 1899 - 650 pages
...one-tenth part of the amount of the capital stock of such bank or banking a-sociation actually paid in. But the discount of bills of exchange drawn in good...commercial or business paper actually owned by the |*-rson negotiating the same shall not be considered as money borrowed : Provitinl, this section shall...
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Munitions Industry: September 4-6, 1934. Electric Boat Co

United States. Congress. Senate. Special Committee to Investigate the Munitions Industry - 1937 - 1760 pages
...percent of the capital stock of the bank — the aforesaid limitation, however, not to apply to discounts of bills of exchange drawn in good faith against actually...actually owned by the person negotiating the same. In reply you are informed that this office has been advised by counsel that governments are not "corporations"...
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Trust Companies, Volume 24

1917 - 822 pages
...their capital and surplus. But the discount of bills of exchange drawn against actually existing value and the discount of commercial or business paper actually...owned by the person negotiating the same shall not IM> considered as borrowed money within the meaning of the section. Other regulations relate to impairment...
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Trust Companies, Volume 18

1914 - 594 pages
...surplus, if such liabilities are upon drafts or bills of exchange drawn against existing values, or upon commercial or business paper actually owned by the person negotiating the same, and are endorsed by such person without limitation; or if such liabilities in excess of ten per centum...
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Public Laws and Resolutions of the State of North Carolina Passed by the ...

North Carolina - 1897 - 848 pages
...part of the amount of the capital stock of such bank or banking association actually paid in. But the the discount of bills of exchange drawn in good faith...the same shall not be considered as money borrowed. SEC. 4. This act shall be in force from and after its ratification. Ratified the 6th day of March,...
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Public Laws and Resolutions of the State of North Carolina Passed by the ...

North Carolina - 1923 - 724 pages
...surplus of such industrial bank, but the discount of bona fide bills of exchange or acceptances drawn against actually existing values, and the discount...commercial or business paper actually owned by the person or persons, corporation, company, or firm negotiating the same, shall not be considered money so borrowed....
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Code of Federal Regulations: Containing a Codification of Documents of ...

1959 - 732 pages
...of exchange drawn in good faith against actually existing values; (2) to obligations arising out of the discount of commercial or business paper actually owned by the person negotiating the same; (3) to the liability of a customer on account of an acceptance made by the Corporation for his account...
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The Code of Federal Regulations of the United States of America

1981 - 360 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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