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" actually paid in. 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.... "
Report of the Corporation Commission - Side 49
av North Carolina. Corporation Commission - 1907
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Code of Federal Regulations: Containing a Codification of Documents of ...

1959
...of exchange drawn in good faith against actually existing values; (2) to obligations arising out of the discount of commercial or business paper actually owned by the person negotiating the same; (3) to the liability of a customer on account of an acceptance made by the Corporation for his account...
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Code of Federal Regulations: Containing a Codification of Documents of ...

1972
...limitation of 10 per centum shall be subject to the following exceptions:] (2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnershlp, association,or corporation negotiating the same shall not be subject under this section...
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Code of Federal Regulations: Containing a Codification of Documents of ...

1973
...limitation of 10 per centum shaU be subject to the following exceptIons:¿ (2) OblIgations arising out of the discount of commercial or business paper actually owned by the person, copartnersbtp, assoclatlon.or corporation negotiating the same shall not be subject under this section...
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Code of Federal Regulations: Containing a Codification of Documents of ...

1982
...this section to any limitation based upon such capital and surplus. (2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnership, association, or corporation negotiating the same shall not be subject under this section...
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Code of Federal Regulations: Containing a Codification of Documents of ...

1975
...limitation of 10 per centum shall be subject to the following exceptions:) (2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnership, association, or corporation negotiating the same shall not be subject under this section...
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Committee Prints

United States. Congress. Senate. Committee on Rules and Administration - 1952
...to a sum not in excess of 50 per cent of the capital and surplus of such bank. (3) The discounting of bills of exchange drawn in good faith against actually existing values and the discounting of commercial or business paper actually owned by the person negotiating the same shall...
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Hearings on S. Res. 301, Volumer 1-2

United States. Congress. Senate. Select Committee to Study Censure Charges - 1954
...limitation of thjrfty per cent in addition to the limitation hereinbefore stated, and the discounting of bills of exchange drawn in good faith against actually existing values, and the discounting of commercial or business paper actually owned by the person negotiating the same, shall...
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Hearings on S. Res. 301: Hearings Before a Select Committee to Study ..., Del 2

United States. Congress. Senate. Select Committee to Study Censure Charges - 1954
...in good faith against S1!I& existing values and the discounting of ccimnercial or business paper ¿ owned by the person negotiating the same shall not be considered as ¿ borrowed within the meaning of subsections (1) and (2) of this section. - (5) No bank shall make...
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United States Supreme Court Reports, Volumer 251-253

United States. Supreme Court - 1921
...shall in no event cxceed thirty per centum of the capital stock of the association] . But the disfount of bills of exchange drawn in good faith against actually existing values, and the diséount of commercial or business paper actually owned by the person negotiating the same, shall...
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Federal Reserve Act, 1913: McFadden Act, 1927; Banking Act of 1933, Banking ...

United States Congress. House. Banking and Currency Committee - 1958
...centum of the unimpaired capital and surplus of said bank; but this restriction shall not apply to the discount of bills of exchange drawn in good faith against actually existing values. Any member bank may accept drafts or bills of exchange drawn upon it and growing out of transactions...
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