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" 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... "
Branch, Chain, and Group Banking: Hearings Before the Committee on Banking ... - Page 599
by United States Congress. House. Banking and Currency Committee - 1930
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Acts of the State of Ohio

Ohio - Session laws - 1851 - 196 pages
...portion of its capital stock, or of the capital stock of any other incorporated company, unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith, on security which, at the time, was deemed adequate to insure the payment of such debt, independent...
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The Compiled Laws of the State of Michigan: Published by Authority, Part 2

Michigan, Thomas McIntyre Cooley - Law - 1857 - 998 pages
...Ątsonrn stock of any other incorporated company, unless such purchase or other Capital ,,,, ч ii • ^T shall be necessary to prevent loss upon a debt previously contracted in good faith, on security which at the time was deemed adequate to insure the payment of such debt, independent of...
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Public and Local Acts of the Legislature of the State of Michigan, Volume 2

Michigan - 1857 - 1012 pages
...,/.,'. , , nor hold its own stock of any other incorporated company, unless such purchase •tock. shall be necessary to. prevent loss upon a debt previously contracted in good faith, on security which at the time was deemed adequate to insure the payment of such debt, independent of...
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Public Documents of Massachusetts, Volume 6, Part 1

Massachusetts - Massachusetts - 1894 - 760 pages
...upon such terms as may be agreed upon. SECT. 16. No such corporation shall make any loan or discount on the security of the shares of its own capital stock,...loss upon a debt previously contracted in good faith ; and stock so purchased or acquired shall, within six mouths from the time of its purchase, be sold...
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Laws Enacted in the General Assembly of the Commonwealth of Pennsylvania ...

Pennsylvania. Laws, statutes, etc - Law - 1860 - 994 pages
...its capital, or of the capi•apiui stock of ta' stoc'c °f any other incorporated bank, unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith, on security, which at the time was deemed adequate to insure the payment of such debt, independent...
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Journal: 1st-13th Congress . Repr. 14th Congress, 1st Session ..., Volume 1

United States. Congress. House - United States - 1863 - 1178 pages
...circulation. "ЙЕС. 35. And be it further enac/i'd, That no association shall make any loan or discount on the security of the shares of its own capital stock,...loss upon a debt previously contracted in good faith; and stock so purchased or acquired shall, within six months from the time of its purchase, be sold...
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The Merchants' Magazine and Commercial Review, Volume 48

1863 - 512 pages
...portion of its capital stock, or of the capital stock of any other incorporated company, unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith, on security which, at the time, was deemed adequate to insure the payment of such debt, independent...
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The Merchants' Magazine and Commercial Review, Volume 48

William B. Dana - Commerce - 1863 - 508 pages
...portion of its capital stock, or of the capital stock of any other incorporated company, unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith, on security which, at the time, was deemed adequate to insure the payment of such debt, independent...
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American Slavery and Finances, Volumes 1-9

Robert John Walker - Finance - 1864 - 414 pages
...its capital stock, or forbidden. of the capital stock of any other incorporated company, unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith, or security which, at the time, was deemed adequate to insure the payment of such debt, independent...
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THE AMERICAN ANNUAL CYCLOPAEDIA

1864 - 878 pages
...portion of its capital stock, or of the capital stock of any other incorporated company, unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith, on security which, at the time, was deemed adequate to insure the payment of such debt, independent...
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