 No association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted...  The Federal Reporter - Page 6291885Full view - About this book
 | Massachusetts - Massachusetts - 1894 - 760 pages
...of real and personal property upon such terms as may be agreed upon. SECT. 16. No such corporation shall make any loan or discount on the security of...such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith ; and stock so purchased... | |
 | United States. Congress. House - United States - 1863 - 1180 pages
...them available for the redemption of their circulation. "ЙЕС. 35. And be it further enac/i'd, That no association shall make any loan or discount on...such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith; and stock so purchased... | |
 | Charles Tennant - Banks and banking - 1866 - 894 pages
...the amount due to them available for the redemption of this circulation. Sec. 35. No Association to make any loan or discount on the security of the shares...such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith ; and stock so purchased... | |
 | United States. Supreme Court - Law reports, digests, etc - 1874 - 724 pages
...thirty-sixth section abovequoted. On the contrary, the new act by its thirty-fifth section enacted, " That no association shall make any loan or discount on...security of the shares of its own capital stock, nor be tho purchaser nor holder of any such shares, unless such security or purchase shall be necessary to... | |
 | James M. Hiatt - United States - 1868 - 426 pages
...all notes or bills issued by any association existing under and by virtue of. this act. SEC. 35. That no association shall make any loan or discount on...such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith; and stock so purchased... | |
 | James M. Hiatt - United States - 1868 - 438 pages
...all notes or bills issued by any association existing under and by virtue of this act. SEO. 35. That no association shall make any loan or discount on...of the shares of its own capital stock, nor be the purehaser or holder of any such shares, unless such security or purchase shall be necessary to prevent... | |
 | Frederick Charles Brightly - Law - 1869 - 682 pages
...in, section fifty of the national banking law, approved June 3d 1864.(6) VI. GENERAL PROVISIONS. 36. No association shall make any loan or discount on the security of the shares of 3 June ISM -;?',. its own capital stock, nor be the purchaser or holder of any such shares, unless... | |
 | John Torrey Morse (Jr.) - Banking law - 1870 - 600 pages
...due them available for the redemption of their circulation. SEC. 35. And be it further enacted, That no association shall make any loan or discount on...such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith ; and stock so purchased... | |
 | Law - 1884 - 550 pages
...brought to this court on writ of error. FIELD, J. Section 5,201 of the Revised Statutes declares that " no association shall make any loan or discount on...such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith, and stock so purchased... | |
 | Law - 1871 - 874 pages
...board of directors to make bylaws, but declares they must not be inconsistent with its provisions. loan or discount on the security of the shares of its own capital stock, nor he the purchaser or holder of any such shares unless to prevent loss on a debt previously contracted... | |
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