 Stock (Sec. 5201). —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...  Public Documents of Massachusetts - Page lby Massachusetts - 1894Full view - About this book
 | World's congress of bankers and financiers, Chicago, 1893 - 1893 - 624 pages
...the Comptroller of Finance may require. SEC. 23. That no association shall make loans or discounts on the security of the shares of its own capital stock, nor be the purchaser or holder of anysuch shares, unless such security or purcha*? shall be necessary to prevent loss upon a debt previously... | |
 | 1893 - 1256 pages
...shall not exceed onetenth part of the capital paid in; that no association shall make any original loan or discount on the security of the shares of its own capital stock; that no check be certified in excess of the drawer's deposit; that reports of condition be made and... | |
 | Massachusetts. Division of Banks and Loan Agencies - 1894 - 308 pages
...corporation shall be the purchaser or holder of any of the shares of its own capital stock, unless such purchase shall be necessary to prevent loss upon a...debt previously contracted in good faith ; and stock xxiv APPENDIX. so purcbased shall, within six months from the time of its purchase, be sold or disposed... | |
 | 1894 - 1206 pages
...incorporated, and doing that which is prohibited by law. A bank'ng association Is forbidden In this state to make any loan or discount on the security of the shares of Its own capital stock, or to be the purchaser or holder of any of its shares of capital stock, unless such security or purchase... | |
 | Michigan. Banking Division - 1894 - 344 pages
...holder or Bank not to nom purchaser of any portion of iis capital stock uuless such JJ?"s1 stocls• 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 monthe, if the stock... | |
 | District of Columbia. Court of Appeals - 1902 - 670 pages
...the bank upon the note upon the ground that section 5201. RSUS prohibits national banks from making any loan or discount on the security of the shares of its own capital stock, and from becoming the purchaser or holder of any such shares, unless such security or purchase shall... | |
 | Nebraska. State Banking Board - 1898 - 84 pages
...corporation conducting a banking business shall make any loan or discount on the security of the shares.of its own capital stock, nor be the purchaser or holder...security or purchase shall be necessary to prevent the loss upon a debt previously contracted in good faith; and stock so purchased or acquired shall... | |
 | Michigan. Banking Division - 1895 - 352 pages
...holder or Bank not 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... | |
 | 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,... | |
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