The Agricultural Credits Act and Amendments to Farm Loan Act and Federal Reserve ActU.S. Government Printing Office, 1926 - Agricultural credit |
Common terms and phrases
Act is amended advances agent Agricultural Credit Corporation agricultural purpose amended by adding amended to read amount approval articles of association associations and borrowers bills of exchange board of directors borrowers through agencies branch bank capital and surplus capital stock centum certificate chattel mortgages committee conveying or securing counterfeited coupon debentures deemed defraud Deputy Comptroller discount or purchase drafts employees exceed falsely altered Farm Loan Act Farm Loan Board Farm Loan Commissioner Federal Farm Loan Federal Intermediate Credit Federal land bank Federal Reserve Act Federal reserve bank Federal Reserve Board imprisonment indebtedness Intermediate Credit Bank issued or drawn liabilities liquidation live stock loan bonds maturity National Agricultural Credit national banks National Farm Loan notes obligations issued organization paid paragraph of section paragraph to read person poration read as follows readily marketable rediscount Secretary serve till December shareholders tion Treasury trust company unimpaired capital United warehouse receipts
Popular passages
Page 4 - The net earnings derived by the United States from Federal reserve banks shall, in the discretion of the Secretary, be used to supplement the gold reserve held against outstanding United States notes, or shall be applied to the reduction of the outstanding bonded indebtedness of the United States under regulations to be prescribed by the Secretary of the Treasury.
Page 12 - And the knowingly taking, receiving, reserving, or charging a rate of interest greater than aforesaid shall be held and adjudged a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it, or which has been agreed to be paid thereon.
Page 21 - That if any person shall falsely make, forge, or counterfeit, or cause or procure...
Page 31 - If any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
Page 31 - That if any clause, sentence, paragraph, or part of this act shall, for any reason, be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder thereof...
Page 27 - States and having an unimpaired capital sufficient to entitle it to become a national banking association under the provisions...
Page 28 - Notes, drafts and bills admitted to discount under the terms of this paragraph must have a maturity at the time of discount of not more than ninety days...
Page 28 - ... notes, drafts and bills of exchange arising out of actual commercial transactions; that is, notes, drafts and bills of exchange issued or drawn for agricultural, industrial or commercial purposes, or the proceeds of which have been used, or are to be used, for such purposes, the Federal Reserve Board to have the right to determine or define the character of the paper thus eligible for discount, within the meaning of this Act.
Page 12 - In case the greater rate of interest has been paid, the person by whom it has been paid, or his legal representatives, may recover back in an action in the nature of an action of debt, twice the amount of the interest thus paid from the association taking or receiving the same ; provided, such action is commenced within two years from the time the usurious transaction occurred.
Page 21 - ... not exceeding one year, or both, and may be fined a further sum equal to the money so loaned or gratuity given, and shall forever thereafter be disqualified from holding office as an examiner under the provisions of this Act. No examiner, while holding such office, shall perform any other service for compensation for any bank or banking or loan association, or for any person connected therewith in any capacity.