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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 xxxii
by Michigan. Banking Division - 1908
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Laws

Illinois - 1887 - 360 pages
...of the amount of capital of such association actually paid in. But the discount of bills of exchange drawn in good faith, against actually existing values,...actually owned by the person negotiating the same, shall not be considered as money borrowed. § 11. Associations may be organized under this act in incorporated...
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Pratt's Digest of the National Bank Act and Other Laws Relating to National ...

A.S. Pratt & Sons - 1886 - 252 pages
...amount of the capital stock of such association actually paid in. But the discount of bills of exchange drawn in good faith against actually existing values,...actually owned by the person negotiating the same, shall not be considered as money borrowed. 44 excess of the limit would be in violation of the letter...
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Public and Local Acts of the Legislature of the State of Michigan, Part 2

Michigan - 1887
...part of the amount of the capital and surplus of such bank ; but the discount of bills of exchange drawn in good faith against actually existing values...actually owned by the person negotiating the same shall not be considered as money borrowed: Provided, however, That the foregoing limitations shall...
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The Revised Statutes of the State of Illinois: Embracing All Laws of a ...

Illinois - 1887 - 2194 pages
...in. But the discount of bills of exchange drawn in gix>d faith, against actually existing values, aud the discount of commercial or business paper actually owned by the person negotiating the same, shall not be considered as money borrowed. 11. Capital stock — impairment thereof. §11. Associations...
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Journal of the Senate of the General Assembly, Volume 35

Illinois. General Assembly. Senate - 1888 - 1248 pages
...amount of capital stock of such association actually paid in. But the discount of bills of exchange drawn, in good faith, against actually existing values,...actually owned by the person negotiating the same, shall not be considered as money borrowed." The question then being, "Shall the foregoing Senate Bill...
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A Treatise on the Law of Banks and Banking, Volume 2

John Torrey Morse (Jr.) - 1888 - 712 pages
...§ 128. Kansas Valley Bank v. Rowell, 2 Dill. 371. 2 § 129. » See Ultra vires, Legislative Intent. discount of commercial or business paper actually owned by the person negotiating the same, shall not be considered as money borrowed. § 30. (5197.) Interest, what Rate may be taken.1 — Any...
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The Revised Statutes of the State of Illinois: Embracing All Laws of a ...

Illinois - 1889 - 2184 pages
...the, amount of capital of such association actually paid in. Hut the discount of bills of exchange drawn in good faith", against actually existing values,...actually owned by the person negotiating the same, shall not be considered as money borrowed. 11. Capital stock — impairment thereof. §11. Associations...
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Extracts from the Laws of the United States Relating to Currency and Finance

United States - 1889 - 90 pages
...such association actually paid in: Provided, that the discount of bond fide bills of exchange drawn against actually existing values, and the discount...commercial or business paper actually owned by the person or persons, corporation, or firm negotiating the same shall not be considered as money borrowed. [Section...
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Laws, Joint Resolutions, and Memorials, Passed at the ... Session of the ...

Nebraska - 1889 - 724 pages
...per cent. of the paid up capital of" said bank or corporation. But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial paper actually owned by the person negotiating the same, shall not be considered as money borrowed....
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The National-Bank Act and Other Laws Relating to National Banks, from the ...

United States - 1889 - 120 pages
...Ktoc^ of such association actually paid in. But the dis etc., not » loan. connt of ijiiis of exchange drawn in good faith against actually existing values, and the discount of commercial от business paper actually owned by the person negotiating the same, shall not be considered as money...
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