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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 ...

1982
...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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United States Code

United States - 1971
...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 ...

1983
...be under this section to any limitation pon such capital and surplus. (2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnershlp, associatlon, or corporation negotIating the same shall not be subject under this section...
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Banks and Money: International and Comparative Finance in History

Geoffrey Jones - 1991 - 198 sider
...person or company. But there were two exceptions to this provision. The first exempted from the limit ‘the discount of bills of exchange drawn in good faith against actually existing values' — in others words, real commercial paper. The obvious presumption here was that, because such loans...
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Congressional Serial Set

1993
...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 Federal reserve bank may discount acceptances of the kinds hereinafter described, which have a...
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Insider Lending: Banks, Personal Connections, and Economic Development in ...

Naomi R. Lamoreaux - 1996 - 170 sider
...any one person or company. There were two exceptions to this provision, however. The first exempted “the discount of bills of exchange drawn in good faith against actually existing values” — in other words, real commercial paper. The obvious presumption here was that, because such loans...
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Evolving Financial Markets and International Capital Flows: Britain, the ...

Lance E. Davis, Robert E. Gallman - 2001 - 986 sider
...bank would not be endangered by discounting large amounts from a single firm. The second exemption, "the discount of commercial or business paper actually owned by the person negotiating the same," is similarly instructive. Such persons were normally expected to be professional brokers, whose growing...
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A Memoir of Benjamin Robbins Curtis, LL.D.

Benjamin Robbins Curtis - 1879 - 490 sider
...PROVIDED, that the discount of bona fide bills of exchange drawn against actually existing values, or the discount of commercial or business paper actually owned by the person or persons, corporations, or firms negotiating the same, shall not be considered as money borrowed."...
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Business Barometers for Anticipating Conditions

Roger W. Babson - 2006 - 448 sider
...documents. The paper must have not longer than ninety days before maturity, and except in the case of "bills of exchange drawn in good faith against actually existing values" no bank can lend in excess of 10% of its capital and surplus to any one firm or individual. Also there...
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