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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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McKinney's Consolidated Laws of New York Annotated: With Annotations ..., Book 4

New York (State) - 1916 - 526 pages
...stock, or 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 be sold at public or private sale, or otherwise disposed of,...
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Session Laws of the State of Washington

Washington (State) - 1917
...stock, or 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 be sold at public or private sale or otherwise disposed of,...
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Public Documents, Part 4

West Virginia - 1917
...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 all stock purchased or acquired in such manner shall, within six months from the time of purchase,...
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A Treatise on Trust Company Law

John Harold Sears - 1917 - 588 pages
...capital stock, or be the purchaser or holder of .any such shares, unless security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith, and stock so purchased or acquired shall be sold at public or private sale, or otherwise disposed of,...
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Banking Laws: An Official Manual Containing All State Laws of General Nature ...

West Virginia - 1917 - 174 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 all stock purchased or acquired in such manner shall, within six months from the time of purchase,...
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Digest of Decisions of the Supreme Court of the United States Reported in ...

1917 - 1220 pages
...the section prohibiting a national bank from purchasing its own shares, unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith, must be negatived. — Id. An indictment charging that defendant, president of a national bank, "procured"...
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Reports of Cases Argued and Determined in the Supreme Court of ..., Volume 86

Oregon. Supreme Court, William Wallace Thayer, Joseph Gardner Wilson, Thomas Benton Odeneal, Julius Augustus Stratton, William Henry Holmes, Reuben S. Strahan, George Henry Burnett, Robert Graves Morrow, James W. Crawford, Frank A. Turner, Bellinger, Charles Byron - 1918 - 848 pages
...own capital stock, except in cases where the taking of such collateral, or such purchase, shall be necessary to prevent loss upon a debt previously contracted in good faith, and in such cases, unless full payment of such debt is made, such stock shall be sold by the bank within...
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Banking Laws of the State of Missouri: Revision 1919

1919 - 316 pages
...stock, or 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 be sold at public or private sale, or otherwise disposed of,...
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Digest of the Decisions of the Supreme Court of Oregon: Vol. 72-90 ..., Volume 3

1919 - 832 pages
...its own capital stock except in cases where the taking of such collateral or such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith and in such cases unless the full payment of the debt is made, such stock shall be sold by the bank...
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Instructions of the Comptroller of the Currency Relative to the Organization ...

United States. Office of the Comptroller of the Currency - 1919 - 145 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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