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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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Ohio Corporations Other Than Municipal: As Authorized by the Old and New ...

Abraham Titus Brewer, Gustav Adolf Laubscher - Corporation law - 1900 - 713 pages
...of such company 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 money borrowed. 76 OL...
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Acts of the legislature of west virginia

1901
...110 time exceed fifty per centum of the capital stock, plus the surplus fund and undivided, profits. But the discount of bills of exchange drawn in good...the same, shall not be considered as money borrowed. The corporations mentioned in this section shall not be construed to mean municipal corporations, districts...
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Reports of Cases Determined in the Appellate Courts of Illinois, Volume 93

Illinois. Appellate Court, Martin L. Newell, Mason Harder Newell, Walter Clyde Jones, Keene Harwood Addington, James Christopher Cahill, Basil Jones, James Max Henderson, Ray Smith - Courts - 1901
...capital stock actually paid in, the statute proceeds to say : VOL. 93.] Murry Nelson & Co. v. Leiter. commercial or business paper actually owned by the...person negotiating the same, shall not be considered as borrowed monev." Starr & Curtis' Stat., Chap. I6u, entitled " Banks," Sec. 13. It appears from Mr....
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The International Year Book: A Compendium of the World's Progress During the ...

Frank Moore Colby, Harry Thurston Peck - 1901
...cent, of the paid-up capital stock of the bank. But the discount of bills of exchange drawn against existing values and the discount of commercial or...business paper actually owned by the person negotiating it is not to be considered as money borrowed (present lav.-). Provided, however (proposed amendment),...
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The American State Reports: Containing the Cases of General Value ..., Volume 83

Abraham Clark Freeman - Law reports, digests, etc - 1902
...shall at no time exceed onetenth part of the amount of capital of such association actually paid in. But the discount of bills of exchange drawn in good...same, shall not be considered as money borrowed." The legislative intent in the enactment of this statute was to prescribe the duties of those officials...
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The American State Reports: Containing the Cases of General Value ..., Volume 83

Abraham Clark Freeman - Law reports, digests, etc - 1902
...of capital of such association actually paid in. But the discount of bills of exchange drawn in pood faith, against actually existing values, and the discount...same, shall not be considered as money borrowed." The legislative intent in the enactment of this statute was to prescribe the duties of those officials...
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Money and Banking: Illustrated by American History

Horace White - Banks and banking - 1902 - 474 pages
...lend more than one-tenth of its capital to one person, corporation, or firm, directly or indirectly. But the discount of bills of exchange drawn in good...commercial or business paper actually owned by the Restrictions. . . , ... , No bank can become indebted to an amount exceeding its unimpaired capital...
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Money and Banking: Illustrated by American History

Horace White - Banks and banking - 1902 - 474 pages
...lend more than one-tenth of its capital to one person, corporation, or firm, directly or indirectly. But the discount of bills of exchange drawn in good...commercial or business paper actually owned by the Restrictions. . . ;' , person negotiating the same, shall not be considered as money borrowed. A bank...
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Modern Banking Methods and Practical Bank Bookkeeping

Albert Reed Barrett - Banks and banking - 1908 - 325 pages
...tune 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. DrvjHK.vus AND SURPLUS FUND. 77. (SEC. 5199.) The directors of any association may, semi-annually,...
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Annual Report of the Attorney General of the State of Michigan

Michigan. Attorney General's Office, Michigan. Department of Attorney General - 1903
...to destroy the force and effect of the limitation itself. The exception to which I refer relate to the discount of bills of exchange drawn in good faith...actually owned by the person negotiating the same, and which in my opinion should be strictly construed and should be held to apply to no transaction...
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