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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... "
Annual Report of the Commissioner of the Banking Department of the State of ... - Page 133
by Michigan. Banking Division - 1891
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American law reports annotated, Volume 51

1927 - 1624 pages
...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 in good faith," etc. Appellant insists that the closing sentence of Exhibit F compels the bank to look to its own stock,...
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Hearings, Reports and Prints of the Senate Committee on Banking and Currency

United States. Congress. Senate. Committee on Banking and Currency - 1963 - 716 pages
...capital 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 debt, independent...
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Federal Banking Laws and Reports, 1780-1912 ..., 50th Anniversary, 1913-1963 ...

United States. Congress. Senate. Committee on Banking and Currency - 1963 - 548 pages
...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 in good faith ; and stock so purchased or acquired shall, within six months from the time of its purchase, be sold...
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Consolidation of Bank Examining and Supervisory Functions: Hearings Before ...

United States. Congress. House. Banking and Currency Committee - 1965 - 624 pages
...loan or discount on the security of the shares of its own capital stock, unless such security shall be necessary to prevent loss upon a debt previously contracted in good faith. As stated in 12 USC 83, a national bank may accept the security of its own stock only when such security...
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Comptroller's Manual for National Banks: Laws, Regulations, Rulings

United States. Office of the Comptroller of the Currency - 1966 - 480 pages
...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 in good faith; and stock so purchased or acquired shall, within six months from the time of its purchase, be sold...
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To Amend the Bank Merger Act of 1960: Hearings Before the ..., Volumes 1-2

United States. Congress. House. Committee on Banking and Currency. Subcommittee on Domestic Finance - 1966 - 1122 pages
...loan or discount on the security of the shares of its own capital stock, unless such security shall be necessary to prevent loss upon a debt previously contracted in good faith. As stated in 12 USC 83, a national bank may accept the security of its own stock only when such security...
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The Comptroller and Bank Supervision: a Historical Appraisal, Volume 10

Ross M. Robertson - 1968 - 286 pages
...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 in good faith; and stock so purchased or acquired shall, within six months from the time of its purchase, be sold...
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Reports of Cases Determined in the Supreme Court of the ..., Volume 44

Philippines. Supreme Court - 1924 - 1112 pages
...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 in good faith, and stock so purchased or acquired shall, within six months from the time of its purchase, be sold...
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Minnesota Reports: Cases Argued and Determined in the Supreme ..., Volume 38

Minnesota. Supreme Court - 1888 - 614 pages
...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 in good faith ; and stock so purchased or acquired shall, within sis (6) months from the time of its purchase, be...
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