 | Michigan - 1887
...stockholders. No bank shall be the holder or purchaser of any portion of its capital stock unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith. Stock so purchased shall in no case be held by the bank for a longer time than six months, if the stock... | |
 | 1912 - 1268 lapas
...5 of section 25 of the banking law, so far as material, provided as follows : "No such corporation shall make any loan or discount on the security of...or purchase shall be necessary to prevent loss upon debt previously contracted in good faith ;, and stock purchased or acquired shall, within six months... | |
 | Irving Browne - 1889 - 824 lapas
...Britton. part of the capital stock of the association actually paid in." Section 5201 provides that no association shall make any loan or discount on...the security of the shares of its own capital stock, nnless such security shall be necessary to prevent loss on a previously contracted debt. If the counts... | |
 | Michigan. Legislature - 1889 - 730 lapas
...the holder в»1»* not to or purchaser of any portion of its capital stock unless such pur- ' chase shall be necessary to prevent loss upon a debt previously contracted in good faith. Stock so purchased shall in no case be held by the bank for a longer time than six months, if the stock... | |
 | Claudius Buchanan Patten - 1908 - 648 lapas
...Act is as follows: "No bank shall loan or discount on the security of shares in its own capital stock unless such security or purchase shall be necessary...upon a debt previously contracted in good faith." When shares are taken under the contingency last named the Bank Act demands that they be sold within... | |
 | New York (State). Court of Appeals - 1891 - 660 lapas
...upon the evidence. The United States Bank act (USR S., § 5201), prohibits a national bank from making any loan or discount on the security of the shares of its own capital stock, and from pufchasing or holding any of such shares, unless it becomes necessary to prevent loss upon... | |
 | Michigan. Banking Division - 1891 - 178 lapas
...sank not to noia any portion of its capital stock unless such purchase shall be capltal 8tock' etc. necessary to prevent loss upon a debt previously contracted in good faith. Stock so purchased shall in no case be held by the bank for a longer time than six months, if the stock... | |
 | 1892 - 936 lapas
...transferred to Rutherford was in violation of the National Banking Act, which provides that no banking association "shall make any loan or discount on the...shares of its own capital stock, nor be the purchaser of any such shares unless such security or purchase shall be necessary to prevent loss upon a debt... | |
 | 1892 - 836 lapas
...shall not exceed one-tenth part of the capital paid in ; that no association shall make any original loan or discount on the security of the shares of its own capital stock ; that no check be certified in excess of the drawer's deposit ; that reports of condition be made... | |
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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... 
