 | United States Congress. House. Banking and Currency Committee - 1959 - 84 pages
...percent of the unimpaired surplus fund. Limitation does not apply to(1) Obligations arising out of the discount of commercial or business paper actually owned by the person negotiating same. (2) Obligations secured by shipping documents, warehouse receipts, or other such documents transferring... | |
 | 1959 - 1410 pages
...this section to any limitation based upon such capital and surplus. (2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnership, association, or corporation negotiating the same shall not be subject under this section... | |
 | 1959 - 1256 pages
...limitation of 10 per centum shall be subject to the following exceptions: (2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnership, association, or corporation negotiating the same shall not be subject under this section... | |
 | United States. Congress. Senate. Committee on Banking and Currency - 1959 - 892 pages
...this section to any limitation based upon such capital and surplus. "(2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnership, association, or corporation negotiating the same shall not be subject under this section... | |
 | United States. Congress. Senate. Banking and Currency Committee - 1959 - 892 pages
...this section to any limitation based upon such capital and surplus. "(2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnership, association, or corporation negotiating the same shall not be subject under this section... | |
 | 1963 - 414 pages
...of exchange drawn in good faith against actually existing values; (2) to obligations arising out of the discount of commercial or business paper actually owned by the person negotiating the same; (3) to the liability of a customçr on account of an acceptance made by the Corporation for his account... | |
 | United States. Congress. Senate. Committee on Banking and Currency - 1963 - 548 pages
...Provided, That the discount of bona fide bills of exchange drawn against actually existing values, and the discount of commercial or business paper actually owned by the person or persons, corporation, or firm negotiating the same shall not be considered as money borrowed. SEC.... | |
 | United States. Congress. Joint Economic Committee - 1966 - 332 pages
...this section to any limitation based upon such capital and surplus. "(2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnership, association, or corporation negotiating the same shall not be subject under this section... | |
 | California Board of Bank Commissioners - 1880 - 242 pages
...thereof). " 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." We do not desire to be considered too radical in our suggestions,... | |
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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... 
