...any instalment on his stock, the directors may sell the stock at public auctiou.J No association can make any loan or discount on the security of the shares of its own capital.§ By the 40th section of the act of 1864 it is enacted—the act of 1863 containing no such provision—...

...discount on the security of its own capital stock nor be a purchaser or hold its shares unless the security or purchase shall be necessary to prevent loss upon a debt previously contracted; it requires that the stock so obtained shall be sold within six months. Defendant suggests that, save...

...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...

...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 NO branch shnii in good faith, on security which at the time was deemed my oth'rstocks, adequate to...

...of the capitaphai stock 1 of ta ' stoc k of any other incorporated bank, unless such purchase buki. 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...

...circulation. "SEC. 35. And he it further enacted. That no association shall make any loan or discount ou the security of the shares of its own capital stock,...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 or disposed...

...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 filth, oil security which, at the time, was deemed adequate to insure the payment of such debt, independent...

...available for the redemption of their circulation. Sec. 35. And be it further enacted, That no association shall make any loan or discount on the security of...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 or disposed...

...its capital stock, or forbidden. o f 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...

...the amount due to them available for the redemption of this circulation. Sec. 35. No Association to make any loan or discount on the security of the shares...upon a debt previously contracted in good faith ; and stock so purchased or required to be sold or disposed of, at public or private sale, within six months...