The Agricultural Credits Act and Amendments to Farm Loan Act and Federal Reserve Act |
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acceptances Act is amended additional advances agent Agricultural Credit Corporation amount apply appointed approval assessment association authorized bills of exchange board of directors bonds branch bank candidates capital stock centum certificate charged committee Comptroller consolidated coupon court Currency debentures deemed direct discount district drafts duties elected employees establish examiners exceed exceeding expenses Farm Loan Act Farm Loan Board Federal Farm Loan Federal Intermediate Credit Federal land bank Federal reserve bank Federal Reserve Board funds held hereby imprisonment indorsement interest Intermediate Credit Bank issued least less liabilities limitations liquidation live stock manner maturity mortgages National Agricultural Credit national banks necessary notes notice obligations organization paid paragraph of section payment person powers prescribed published purchase read as follows receipts receive regulations salaries Secretary sell shareholders shares surplus term thereof tion Treasury trust company United vote
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Side 4 - The net earnings derived by the United States from Federal reserve banks shall, in the discretion of the Secretary, be used to supplement the gold reserve held against outstanding United States notes, or shall be applied to the reduction of the outstanding bonded indebtedness of the United States under regulations to be prescribed by the Secretary of the Treasury.
Side 12 - And the knowingly taking, receiving, reserving, or charging a rate of interest greater than aforesaid shall be held and adjudged a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it, or which has been agreed to be paid thereon.
Side 21 - That if any person shall falsely make, forge, or counterfeit, or cause or procure...
Side 29 - If any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
Side 29 - That if any clause, sentence, paragraph, or part of this act shall, for any reason, be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder thereof...
Side 25 - States and having an unimpaired capital sufficient to entitle it to become a national banking association under the provisions...
Side 26 - Notes, drafts and bills admitted to discount under the terms of this paragraph must have a maturity at the time of discount of not more than ninety days...
Side 26 - ... notes, drafts and bills of exchange arising out of actual commercial transactions; that is, notes, drafts and bills of exchange issued or drawn for agricultural, industrial or commercial purposes, or the proceeds of which have been used, or are to be used, for such purposes, the Federal Reserve Board to have the right to determine or define the character of the paper thus eligible for discount, within the meaning of this Act.
Side 12 - In case the greater rate of interest has been paid, the person by whom it has been paid, or his legal representatives, may recover back in an action in the nature of an action of debt, twice the amount of the interest thus paid from the association taking or receiving the same ; provided, such action is commenced within two years from the time the usurious transaction occurred.
Side 21 - ... not exceeding one year, or both, and may be fined a further sum equal to the money so loaned or gratuity given, and shall forever thereafter be disqualified from holding office as an examiner under the provisions of this Act. No examiner, while holding such office, shall perform any other service for compensation for any bank or banking or loan association, or for any person connected therewith in any capacity.