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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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Annals of the American Academy of Political and Social Science, Volumes 93-94

Political science - 1921
...acceptances for any one concern is 10 per cent with the exception noted below in (6). 4. Discounts of bills of exchange drawn in good faith against actually...actually owned by the person negotiating the same are not counted as loans in regard to the above limitation of loans. 5. The liability of a customer...
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Public Documents of Massachusetts, Volume 6

Massachusetts - 1921
...fifth of such amount of the capital stock of the corporation as is actually paid up; but the APPENDIX. discount of bills of exchange drawn in good faith...business paper actually owned by the person negotiating it, shall not be considered as money borrowed. SECTION 3. This act shall take effect upon its passage....
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Acceptances, Trade and Bankers'

Park Mathewson - Acceptances - 1921 - 372 pages
...capital and surplus of that State bank, but it is provided that the discount of bills of exchange drawn against actually existing values and the discount...owned by the person negotiating the same shall not be included in determining the amount to which a borrower is liable to such member State bank. The provisions...
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Annual Report, Volume 7

Board of Governors of the Federal Reserve System (U.S.) - Banks and banking - 1921
...trust company the discount of bills of exchange drawn in good faith against actually existing value and the discount of commercial or business paper actually...owned by the person negotiating the same shall not be included. Any Federal Reserve Bank may make advances to ite member banks on their promissory notes...
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Analytical Credits: A Study in Brief of the Methods Used to Accumulate ...

Alexander Wall - Credit - 1921 - 258 pages
...capital and surplus of such State bank or trust company. in good faith against actually existing value and the discount of commercial or business paper actually...owned by the person negotiating the same shall not be included. Any Federal Reserve Bank may make advances to its member banks on their promissory notes...
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Acceptances, Their Importance as a Means of Increasing and Simplifying ...

American Exchange National Bank, New York - Acceptances - 1921 - 108 pages
...so borrowed, the discount of bills of exchange drawn in good faith against actually existing value, and the discount of commercial or business paper actually...owned by the person negotiating the same, shall not be included. The amendment of March 3, 1919, also permitted Federal reserve banks, with the consent of...
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Commercial Banking Practice Under the Federal Reserve Act: The Law and the ...

National Bank of Commerce in New York - Acceptances - 1921 - 178 pages
...trust company the discount of bills of exchange drawn in good faith against actually existing value and the discount of commercial or business paper actually...owned by the person negotiating the same shall not be included. (Regulation A, Series of 1920, A, I.) ELIGIBILITY OF NOTES, DRAFTS, AND BILLS OF EXCHANGE...
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Digest of Legal Opinions of Thomas B. Paton: General Counsel of the American ...

Thomas Bugard Paton - Banking law - 1922 - 760 pages
...Opinion: There is a similar provision of the National Bank Act excluding from the 10% limit of that Act "The discount of bills of exchange drawn in good faith...actually owned by the person negotiating the same." It has been ruled that a bank may discount without limit, bills of exchange drawn by the seller of...
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North Carolina Corporation Code, Annotated: Containing the Statutes ...

James Hinton Pou - Corporation law - 1922 - 1021 pages
...surplus of such industrial bank, but the discount of bona fide bills of exchange or acceptances drawn against actually existing values, and the discount...commercial or business paper actually owned by the person or persons, corporation, company, or firm negotiating the same, shall not be considered money so borrowed....
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History of Banking in Iowa

Howard Hall Preston - Banks and banking - 1922 - 458 pages
...computing the money borrowed, however, it was provided that the discount of bills of exchange, drawn against actually existing values, and the discount...commercial or business paper actually owned by the persons or firm negotiating the same, should not be included. Supervision of savings banks was placed...
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