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" But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by the person negotiating the same, shall not be considered as money borrowed. "
Annual Report of the Commissioner of the Banking Department of the State of ... - Page 17
by Michigan. Banking Division - 1892
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Revisal of 1905 of North Carolina: Prepared Under Chapter Three ..., Volume 1

North Carolina, Thomas Brown Womack, Needham Y. Gulley, William R. Rodman - 1905 - 1412 pages
...discount of bills of exchange drawn in good faith against actually existing values and the discount of commercial or business paper actually owned by...the same shall not be considered as money borrowed. This section shall not apply to banks with a paid-up capital of one hundred thousand dollars or less....
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The Federal Statutes Annotated: Containing All the Laws of the ..., Volume 5

United States - 1905 - 1032 pages
...discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by...the same, shall not be considered as money borrowed. [RS~\ Act of June 3, 1864, ch. 106, 13 Stat. L 108. The object of this provision of the statute was...
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Laws of the State of New York, Volume 1

New York (State) - 1905 - 1280 pages
...nor to the discount of bills of exchange drawn in good faith against actually existing values, nor to commercial or business paper actually owned by the person negotiating the same, provided, however, that the total liability of any person, company, corporation or firm shall not exceed...
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Principles of Law: Appendix

1906 - 534 pages
...discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by...the same shall not be considered as money borrowed. 111. Associations Must Not Hold Their Own Stock (Sec. 5201). —No association shall make any loan...
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Reports of the Condition of the State, Private and Savings Banks

North Carolina. Corporation Commission - 1906 - 112 pages
...discount of bills of exchange drawn in good faith against actually existing values and the discount of commercial or business paper actually owned by...the same shall not be considered as money borrowed. This section shall not apply to banks with a paid-up capital of one hundred thousand dollars or less....
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Congressional Serial Set, Issue 4906

1906 - 1282 pages
...discount of bills of exchange drawn in good faith against actually existing values and the discount of commercial or business paper actually owned by...the same shall not be considered as money borrowed. And recommend that the bill as amended do pass. The committee believe that there is a great demand...
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International Library of Technology: A Series of ..., Volume 44, Part 2

1906 - 538 pages
...discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by...the same shall not be considered as money borrowed. 111. Associations Must Not Hold Their Own Stock (Sec. 5201). -No association shall make any loan or...
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A Treatise on the Law of National and State Banks: Including the Clearing ...

Harvey White Magee - 1906 - 864 pages
...discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by the person negotiating the same, shall not be regarded as money borrowed." The purpose of this section is to prohibit any bank from loaning its funds...
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Documents of the Assembly of the State of New York, Issues 47-50

New York (State). Legislature. Assembly - 1906 - 1610 pages
...except the discount of bills of exchange drawn in good faith against actual and existing values, or of commercial or business paper actually owned 'by the person negotiating the same, provided, that such loans or discounts on such collateral, or such discounts of bills of exchange,...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1906 - 474 pages
...discount of bills of exchange drawn in good faith against actually existing yalues, and the discount of commercial or business paper actually owned by the person negotiating the same, and wbich in my opinion should be strictly construed and should be held to apply to no transaction...
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