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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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The Voter's Text Book: Comprising a Collection of the Most Important ...

James M. Hiatt - 1868 - 438 pages
...stock, nor be the purehaser 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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Appletons' Annual Cyclopaedia and Register of Important Events ..., Volume 3

1869 - 938 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 tho pavment of such debt, independent...
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A Treatise on the Law Relating to Banks and Banking: With an Appendix ...

John Torrey Morse (Jr.) - 1870 - 542 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 mouths from the time of its purchase, be sold...
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Seventy-three Years' History of the Boston Stock Market, from January 1 ...

Joseph Gregory Martin - 1871 - 100 pages
...shall be necessary to-do so -to prevent loss upon a debt previously contracted ; and then not longer than six, months, if the stock can be sold for what it cost. No bank to make a loan longer than for six months, and in no one instance to exceed ten per cent of...
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The Laws of Wisconsin

Wisconsin - 1935 - 1308 pages
...purchaser of any portion of its capital stock, capital notes or debentures unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith. Stock, notes or debentures so purchased shall in no case be held by the bank for a longer time than six months...
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Practical Information Concerning the Public Debt of the United States: With ...

William Adams Richardson - 1873 - 208 pages
...purchaser or holder shares, except in of any such shares, unless such security or purchase shall oertam 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 Argued and Determined in the Supreme Court of Ohio, Volume 85

Ohio. Supreme Court - 1912 - 644 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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Practical Information Concerning the Public Debt of the United States, with ...

William Adams Richardson - 1873 - 192 pages
...purchaser or holder shares, except m of any such srmres, 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 Bankruptcy Register Reports: Containing All the ..., Volume 1

1874
...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 or...
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The Century of Independence: Embracing a Collection, from Official Sources ...

John Russell Hussey - 1876 - 545 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 mouths from the time of its purchase, be sold...
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