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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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Select Statutes and Other Documents Illustrative of the History of the ...

William MacDonald - 1903 - 464 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 the Condition of the State, Private and Savings Banks

North Carolina. Corporation Commission - 1903 - 68 pages
...holder as pledgee or as 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. SEC. 2. The persons associating shall execute Articles of Incorporation, which shall specifyi 1st....
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Road Laws of the State of Washington: Including Laws Passed at the Session ...

Washington (State) - 1903 - 1326 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 one year from the time of its purchase be sold or...
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History of Coinage and Currency in the United States and the ..., Volume 10

Alonzo Barton Hepburn - 1903 - 692 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 6 months from the time of its purchase, be sold...
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Acts of the Legislative Assembly of the Territory of New Mexico, Session...

New Mexico - 1903 - 364 pages
...holder of any such shares, except as hereinafter provided, 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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The National Bank Act: With All Its Amendments Annotated and Explained

John Melville Gould - 1904 - 316 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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Annual Report of the Commissioner of Banking of State and Mutual Savings Banks

Wisconsin. Banking Dept - 1904 - 572 pages
...shall be the holder of or purchaser of any portion of its capital stock, unless such purchase shall he necessary to prevent loss upon a debt previously contracted in good faith. Stocks so purchased shall in no case bo held by the bank for a longer time.tb.an six months if the...
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Principles of Banking: A Series of Selected Materials

1916 - 832 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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Loans and Investments

1916 - 312 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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Principles of Money and Banking: A Series of Selected Materials

Harold Glenn Moulton - 1916 - 830 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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