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" Our statute provides that in the discount of commercial or business paper actually owned by the person negotiating the same, it shall not be considered as money borrowed. The application of this provision, in my opinion, relates exclusively to the person... "
Annual Report of the Commissioner of the Banking Department of the State of ... - Page xxviii
by Michigan. Banking Division - 1922
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1915 - 780 pages
...parties as they appear on the paper. The borrower may be the maker or the endorser. Pratt's Digest, 94. Our statute provides that in the discount of commercial...negotiating the paper. The statute contemplates that he alone shall be considered as not receiving a loan from the bank. With respect to the maker of such...
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Index-digest of the Federal Reserve Act and Amendments: The Act of December ...

Board of Governors of the Federal Reserve System (U.S.) - 1915 - 514 pages
...exceptions that 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 DO considered as money borrowed. 10. State banks, etc., becoming member banks, to be subject...
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Index-digest of the Federal Reserve Act and Amendments: The Act of December ...

Board of Governors of the Federal Reserve System (U.S.) - 1915 - 514 pages
...exceptions that 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 t>e considered as money borrowed. Section 5201. § 9:1. 34: p. 10. State banks, etc., becoming...
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The Laws of the State of New-Hampshire

New Hampshire - 1915 - 476 pages
...cent., 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 it, shall not be considered as money borrowed; provided, however, that this limitation shall not apply...
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The Civil Code of the State of California: Adopted March 21, 1872, with ...

California - 1915 - 1332 pages
...permitted in addition to such si«cured loans ; or, 4. Forty per centum, provided such loans are upon commercial or' business paper actually owned by the person negotiating the same to stich bank, and are endorsed by such person without limitation ; provided, however, that in addition...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1916 - 798 pages
...parties as they appear on the paper. The borrower may be the maker or the endorser. Trait's Digest. 04. Our statute provides that in the discount of commercial...owned by the person negotiating the same, It shall not he considered as money borrowed. The application of this provision. In my opinion, relates exclusively...
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Acts and Resolves Passed by the General Court

Massachusetts - 1916 - 720 pages
...up; 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 it, .shall not be considered as money borrowed. SECTION 3. This act shall take effect upon its passage....
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The Chicago Daily News Almanac and Year Book for ...

1918 - 1060 pages
...That (1) the discount of bills of cxchangs drawn in good laith against actually cxisting values, (2) the discount of commercial or business paper actually owned by the person, company, corporation or firm negotiating the same, and (3) the purchase or discount of any note or...
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Trust Companies, Volume 24

1917 - 822 pages
...capital and surplus. But the discount of bills of exchange drawn against actually existing value and the discount of commercial or business paper actually owned by the person negotiating the same shall not IM> considered as borrowed money within the meaning of the section. Other regulations relate...
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Trust Companies, Volume 18

1914 - 594 pages
...such liabilities are upon bills of exchange drawn in good faith against actual existing values or upon commercial or business paper actually owned by the person negotiating the same, to a trust company, and are endorsed by such person without limitation. This restriction would apply...
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