Reports of the Condition of the State, Private and Savings Banks

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Edwards & Broughton, and E.M. Uzzell, state printers, 1906 - Banks and banking

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Page 104 - The total liabilities to any association, of any person, or of any company, corporation, or firm for money borrowed, including in the liabilities of a company or firm the liabilities of the several members thereof, shall at no time exceed onetenth part of the amount of the capital stock of such association actually paid in.
Page 104 - 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.
Page 105 - ... executor, administrator, guardian or trustee, shall be liable in like manner, and to the same extent as the testator or intestate. or the ward or person interested in such trust fund would have been, if he had been living and competent to act, and held the same stock in his own name.
Page 103 - To exercise by its board of directors or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt...
Page 103 - 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 in good faith...
Page 104 - AS used in this section, shall apply not only to such persons as appear by the books of the corporation to be such, but also to every equitable owner of stock, although the same appear on the books in the name of another...
Page 105 - Every association shall make to the Comptroller of the Currency not less than five reports during each year according to the form which may be prescribed by him, verified by the oath or affirmation of the president or cashier of such association, and attested by the signature of at least three of the directors.
Page 101 - ... the number of shares into which the same is divided and the par value of each share; the amount of capital stock with which it will commence business, which shall not be less than...
Page 108 - ... any order or bill of exchange, makes any acceptance, assigns any note, bond, draft, bill of exchange, mortgage, judgment or decree ; or who...
Page 103 - Such as shall have been mortgaged to it in good faith, by way of security for loans previously contracted or for moneys due; or, 3. Such as shall have been conveyed to it in satisfaction of debts previously contracted in the course of its dealings; or, 4.

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