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" ... per centum of the unimpaired capital and surplus of said bank ; but this restriction shall not apply to the discount of bills of exchange drawn in good faith against actually existing values. "
Annual Report of the Commissioner of the Banking Department of the State of ... - Page xxxiv
by Michigan. Banking Division - 1910
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1904 - 422 pages
...advancing or loaning too much of their money to any one person, firm or corporation, and in construing the statute with respect to the exception, it is necessary...bills of exchange drawn in good faith against actually exlsting values, and the discount of commercial or business paper actually owned by the person negotiating...
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Annual Report of the Commissioner of Banking of State and Mutual Savings Banks

Wisconsin. Banking Dept - 1904 - 572 pages
...time exceed thirty per cent, of the amount of capital and surplus of such bank; but the discounting of bills of exchange drawn in good faith against actually existing values, and the discounting of commercial or business paper actually owned by the person negotiating the same, shall...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1905 - 448 pages
...exceed one-tenth part of the amount of the capital and surplus of such hank; hut the discount of hills of exchange drawn in good faith against actually existing values and the discount of commercial or husiness paper actually owned hy the person negotiating the same shall not he considered as money horrowed:...
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Laws Passed by the ... Legislature of the State of Texas

Texas - 1905 - 626 pages
...classes of paper shall not be considered as money borrowed within the meaning of this section, viz. (1) The discount of bills of exchange, drawn in good faith, against actually existing values. (2) The discount of paper upon the collateral security of warehouse receipts covering agricultural...
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Corporation Accounting and Corporation Law: A Manual of Corporate ...

John Joseph Rahill - 1905 - 466 pages
...that is their capital, surplus and undivided profits combined. 1066. Discounting bills of exchange in good faith against actually existing values, and the discount of commercial paper actually owned by those negotiating the same, are not regarded as loans. 1067. National Banks...
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Corporation Accounting & Corporation Law...: An Appendix on the California ...

John Joseph Rahill - 1905 - 464 pages
...that is their capital, surplus and undivided profits combined. 1066. Discounting bills of exchange in good faith against actually existing values, and the discount of commercial paper actually owned by those negotiating the same, are not regarded as loans. 1067. National Banks...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1906 - 474 pages
...in such a way as to destroy the force and effect of the limitation itself. The exceptions to wbich I refer relate to the 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...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1906 - 500 pages
...and effect of the limitation itself. The exceptions to which I refer relate to the discount of hills of exchange drawn in good faith against actually existing values, and the discount of commercial or husiness paper actually owned hy the person negotiating the same, and which, in my opinion, should...
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Annual Report [etc.] on State Banks, Mutual Savings Banks and ..., Issue 11

Wisconsin. Banking Dept - 1906 - 644 pages
...exceed thirty per cent, of the amount of capital and surplus of such hankĀ” hut the discounting of hills of exchange drawn in good faith against actually existing values, and the discounting of commercial or husiness paper actually owned hy the person negotiating the same, shall...
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Miscellaneous Series, Issues 82-87

1919 - 1222 pages
...per cent of the unimpaired capital and surplus of said bank ; but this restriction shall not apply to the discount of bills of exchange drawn in good faith against actually existing values. Any member bank may accept drafts or bills of exchange drawn upon it and growing out of transactions...
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