 | Seymour Eaton - 1896 - 328 pages
...Important Provision. "No bank shall loan or discount on the security of shares in its own capital stock unless such security or purchase shall be necessary...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,... | |
 | United States. Supreme Court - 1896 - 762 pages
...banking association is prohibited by law from purchasing shares of its own capital stock unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith. 6. The purchase by officers of a national banking association of shares of its own capital stock unless... | |
 | 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, § 35.) We have here, then, an express inhibition against doing the... | |
 | Oklahoma - 1897 - 344 pages
...up capital. make s ioans° SECTION 25. No bank shall make any loan or disit"stoc r k s ° f coun t on the security of the shares of its own capital stock,...contracted in good faith; and stock so purchased or acquired shall, within six months from the time of its purchase or acquirement, be sold or disposed... | |
 | Wisconsin - 1897 - 1392 pages
...stock. Nobank shall be the holder of or 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. Stocks so purchased shall in no case be held by the bank for a longer time than six mouths, if the... | |
 | United States. Federal Trade Commission - 1934 - 938 pages
...any part of its capital stock, or be the holder or purchaser of any part thereof, unless such lien or purchase shall be necessary to prevent loss upon a debt previously contracted ; and stock so purchased shall in no case be held by the corporation for a longer time than 1 year... | |
 | 1920 - 1042 pages
...purohas ing- and holding stock in any corporation where such purchase shall be necessary to prevent a loss upon a debt previously contracted in good faith: and stock so purchased or acquired in corporations organized under this section shall within six months Irom such purchasf be... | |
 | 1928 - 934 pages
...provided by statute that a national hank may purchase its shares on one condition only, namely. "When It shall be necessary to prevent loss upon a debt previously contracted in good faith." The only question was which had the better right to the surplus in the bands of the defendant after... | |
 | United States - 1971 - 1248 pages
...title; title 50 section 98e. § 83. Loans on or purchase by bank of own stock. No association shall make any loan or discount on the security of the shares...contracted in good faith; and stock so purchased or acquired shall, within six months from the time of its purchase, be sold or disposed of at public or... | |
 | 1977 - 970 pages
...Purchase of own shares or loan secured by own shares. (a) Law— 12 VJS.C. 83. No association shall make any loan or discount on the security of the shares...contracted In good faith; and stock so purchased or acquired •hall, within 6 months from the time of It* purchase, be sold or disposed of at public or... | |
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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... 
