 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...  Acts of the State of Ohio - Page 279by Ohio - 1908Full view - About this book
 | United States. Congress. Senate. Committee on Banking and Currency - 1963 - 548 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... | |
 | United States. Congress. Senate. Committee on Banking and Currency - Banking law - 1963 - 716 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... | |
 | United States. Congress. Senate. Committee on Banking and Currency - 1964 - 162 pages
...stockholders. No bank shall be the holder or purchaser of any portion of its capital stock, unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith. Stock so purchased shall in no case be held by the bank for a longer time than six months, if the stock... | |
 | United States. Congress. House. Judiciary - 1965 - 148 pages
...purchasing and holding stock in any corporation where such purchase shall be necessary to prevent a loss upon a debt previously contracted in good faith ; and stock so purchased or acquired in corporations organized under this section shall within six months from such purchase be sold or... | |
 | United States. Congress. House. Banking and Currency Committee - 1965 - 624 pages
...make any loan or discount on the security of the shares of its own capital stock, unless such security shall be necessary to prevent loss upon a debt previously contracted in good faith. As stated in 12 USC 83, a national bank may accept the security of its own stock only when such security... | |
 | United States. Office of the Comptroller of the Currency - Banking law - 1966 - 480 pages
...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...be sold or disposed of at public or private sale; or, in default thereof, a receiver may be appointed to close up the business of the association, according... | |
 | United States. Congress. House. Committee on Ways and Means - Debts, Public - 1967 - 302 pages
...purchasing and holding stock in any corporation where such purchase shall be necessary to prevent a loss upon a debt previously contracted in good faith; and stock so purchased or acquired in corporations organized under this section shall within six months from such purchase be sold or... | |
 | Ross M. Robertson - Banks and banking - 1968 - 288 pages
...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...be sold or disposed of at public or private sale, in default of which a receiver may be appointed to close up the business of the association, according... | |
 | Philippines. Supreme Court - Law reports, digests, etc - 1924 - 1112 pages
...this Act 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...be sold or disposed of at public or private sale, or, in default thereof, a receiver may be appointed to close up the business of the bank in accordance... | |
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