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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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Hand-book for Bank Officers

George Mathewes Coffin - 1893 - 107 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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Oklahoma Reports: Cases Determined in the Supreme Court of the ..., Volume 56

Oklahoma. Supreme Court, Edward Bell Green, Frank Dale, John Henry Burford, Robert Lee Williams, Matthew John Kane, Howard J. Parker, Charles Winfield Van Eaton - 1916 - 884 pages
...stock, nor be the purchaser or holder of any such shares, unless such securities 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 so'.d...
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Reports of Cases Adjudged in the Court of Appeals of the District ..., Volume 18

District of Columbia. Court of Appeals - 1902 - 670 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 the purchase, be sold...
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Annual Report

Michigan. Banking Division - 1895
...to how purchaser of any portion of its capital, stock unless such ^cpltal 8teck' purchase shall be necessary to prevent loss upon a debt previously contracted in good faith. Stock eo purchased shall in no case be held by the bank for a longer time than six months, if the stock can...
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Reports of Cases Argued and Determined in Ohio Courts of Record ..., Volume 16

William John Tossell - 1906 - 870 pages
...capital stock, or of the capital stock of any other incorporated company, unless such purchase should be necessary to prevent loss upon a debt previously contracted in good faith, on security which, at the time, was deemed Marriott v. Railway. adequate to insure the payment of such...
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The Compiled Statutes of the State of Nebraska, 1881: With Amendments 1882 ...

Nebraska, Guy Ashton Brown, Hiland Hill Wheeler - 1895 - 1512 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 (6) months from the time of its purchase be sold...
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Annual Report

Michigan. Banking Division - 1896
...shall be necessary to prevent loss npon a debt previonsly contracted in good faith. Stock eo pnrchased shall in no case be held by the bank for a longer...if the stock can be sold for what it cost, and it mnst be sold for the best price obtainable within one year, or canceled as hereinafter provided for...
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The Revised Statutes, Codes and General Laws of the State of New York ...

New York (State) - 1896
...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 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 Heard and Determined in the Appellate Division ..., Volume 29

New York (State). Supreme Court. Appellate Division - 1898 - 740 pages
...stock, nor be the purchaser or holder of any such shares unless such security or purchase shall he necessary to prevent loss upon a debt previously contracted in good faith. (13 U. S. Stat. at Large, 110, ยง 35.) We have here, then, an express inhibition against doing the...
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How to Do Business as Business is Done in Great Commercial Centers

Seymour Eaton - 1896 - 316 pages
...discount on the security of shares in its own capital stock unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith." The Name "Bank." In some of the states the title Bank can be lawfully used by any one; in other states,...
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