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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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The Kansas Statutes Concerning Domestic and Foreign Corporations for Profit ...

Kansas, Gasper Christopher Clemens - 1903 - 317 pages
...values or loans upon produce in transit, or upon warehouse or elevator receipts as collateral security, and the discount of commercial or business paper actually...the same, shall not be considered as money borrowed. The bank commissioner may at any time order any excess loan reduced to the legal limit within sixty...
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Select Statutes and Other Documents Illustrative of the History of the ...

William MacDonald - Statutes - 1903 - 442 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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History of Coinage and Currency in the United States and the ..., Volume 10

Alonzo Barton Hepburn - Coinage - 1903 - 666 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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The National Bank Act: With All Its Amendments Annotated and Explained

John Melville Gould - Banking law - 1904 - 288 pages
...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." Referred to in Briggs v. Spaulding, 141 US 132, 143, 161 ; Thompson v. Sioux Falls Nat. Bank, 150 US...
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Annual Report of the Commissioner of Banking of State and Mutual Savings Banks

Wisconsin. Banking Dept - Banks and banking - 1904
...discounting of bills of exchange drawn in good faith against actually existing values, and the discounting of commercial or business paper actually owned by...negotiating the same, shall not be considered as money 1xxrrowed ; provided, that by a two-thirds vote of the directors, the liabilities of any person, co-partnership...
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Annual Report

Michigan. Banking Division - Banks and banking - 1904
...which I refer relate to the discount of bills of exchange drawn in good faith against actually exlsting values, and the discount of commercial or business...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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Revisal of 1905 of North Carolina: Prepared Under Chapter Three ..., Volume 1

North Carolina, Thomas Brown Womack, Needham Y. Gulley, William R. Rodman - Law - 1905
...one-tenth part of the amount of the capital stock of such bank or banking institution actually paid in. But the discount of bills of exchange drawn in good...the same shall not be considered as money borrowed. This section shall not apply to banks with a paid-up capital of one hundred thousand dollars or less....
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The Federal Statutes Annotated: Containing All the Laws of the ..., Volume 5

United States - Law - 1905
...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. [RS~\ Act of June 3, 1864, ch. 106, 13 Stat. L 108. The object of this provision of the statute was...
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Annual Report

Michigan. Banking Division - Banks and banking - 1905
...exceed one-tenth part of the amount of the capital and surplus of such hank; hut the discount of hills of exchange drawn in good faith against actually existing values and the discount of commercial or husiness paper actually owned hy the person negotiating the same shall not he considered as money horrowed:...
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Principles of Law: Appendix

Commercial law - 1906 - 512 pages
...time exceed onetenth 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. 111. Associations Must Not Hold Their Own Stock (Sec. 5201). —No association shall make any loan...
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