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" 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. "
Public and Local Acts of the Legislature of the State of Michigan - Page 11
by Michigan - 1891
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Gold and Debt; and American Hand-Book of Finance

W.L. Fawcett - 1877
...time exceed one-tenth part of the amount of the capital stock of such association actually paid in. But the discount of bills of exchange drawn in good...the same, shall not be considered as money borrowed. (SEC. 5201.) No association shall make any loan or discount on the security of the shares of its own...
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Laws of the United States Relating to Loans and the Currency, Since 1860

United States - Banking law - 1878 - 271 pages
...Provided, That the discount of bona tide bills of excounts not to bo . . . ,,i. included. exchange drawn against actually existing values, and the discount...commercial or business paper actually owned by the person or persons, corporation, or firm negotiating the same shall not l>e considered as money borrowed. rate...
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National Bank Cases: Containing All Decisions of Both the Federal and State ...

Isaac Grant Thompson - National banks (U.S.) - 1878 - 989 pages
...capital stock of such association actually paid in : Provided, that the bonafide bill a of exchange drawn against actually existing values, and the discount...commercial or business paper actually owned by the person or persons, corporation or firm negotiating the same, shall not be considered as money borrowed." Allen...
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Acts of the State of Ohio

Ohio - Session laws - 1879
...of such company actually paid in: provided, that the discount of fxma fide bills of exchange drawn against actually existing values, and the discount...commercial or business paper actually owned by the person or persons, corporation or firm negotiating the same, shall not be considered money borrowed. SEC....
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A Treatise on the Law Relating to Banks and Banking: With an Appendix ...

John Torrey Morse - Banking law - 1879 - 691 pages
...such association actually paid in : Provided, That the discount of bona fide bills of exchange drawn against actually existing values, and the discount...commercial or business paper actually owned by the person or persons, corporation, or firm negotiating the same, shall not be considered as money borrowed. SEC....
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National Bank Cases: Containing All Decisions of Both the Federal ..., Volume 2

Irving Browne - National banks (United States). - 1880
...time exceed one-tenth part of the amount of the capital stock of such association actually paid in. But the discount of bills of exchange drawn in good...the same, shall not be considered as money borrowed. Thomp. NB Cas. 160, 189, 175, 396, 488, 828, 869; ante, 400. Associations not to loan upon, or purchase...
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Journal: Appendix. Reports

California. Legislature - California - 1880
...kind of securities it may accept. The National Banks are only allowed to loan ten (10) per cent, oí drawn in good faith against actually existing values,...the same, shall not be considered as money borrowed. We do not desire to be considered too radical in our suggestions, and have, for that reason, recommended...
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 251

United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - Law reports, digests, etc - 1920
...such liabilities shall in no event exceed thirty per centum of the capital stock of the association]. But the discount of bills of exchange drawn in good...the same shall not be considered as money borrowed." The pertinent portion of the other section reads as follows: "Sec. 5239. If the directors of any national...
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Proceedings of the ... Annual Meeting of the National Board of Trade, Volume 15

National Board of Trade (U.S.) - Transportation - 1885
...limitation which is placed upon the first part. The latter part of the section reads as follows : " But the discount of bills of exchange, drawn in good...same, shall not be considered as money borrowed." Now, although there is a limitation of ten per cent, of the capital of any National Banking Association,...
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Laws

Illinois - Law - 1887
...shall at no time exceed one-tenth part of the amount of capital of such association actually paid in. But the discount of bills of exchange drawn in good...the same, shall not be considered as money borrowed. § 11. Associations may be organized under this act in incorporated towns, villages, or cities of not...
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