Practical Information Concerning the Public Debt of the United States With the
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What are bad debts.
Notes not to be paid out, except those of solvent banks, redeem able at par.
Fourth. On account of liabilities to its stockholders for dividends and reserved profits.
SEC. 37. And be it further enacted, That no association shall, either directly or indirectly, pledge or hypothecate any of its notes of circulation, for the purpose of procur ing money to he paid in on its capital stock, or to he used in its banking operations, or otherwise ; nor shall any association use its c...irculating notes, or any part thereof, in any manner or form, to create or increase its capital stock.
SEC. 38. And be it further enacted, That no association, or any member thereof, shall, during the time it shall con tinue its banking operations, withdraw, or permit to be withdrawn, either in form of dividends or otherwise, any portion of its capital.
And if losses shall at any time have been sustained by any such association equal to or exceeding its undivided profits then on hand, no dividend shall be made; and no dividend shall ever be made by any association, while it shall continue its banking operations, to an amount greater than its net profits then on hand, deducting therefrom its losses and bad debts.
What to read after Practical Information Concerning the Public Debt of the United States With the?
You can find similar books in the "Read Also" column, or choose other free books by William a William Adams Richardson to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
What are bad debts.
Notes not to be paid out, except those of solvent banks, redeem able at par.
Fourth. On account of liabilities to its stockholders for dividends and reserved profits.
SEC. 37. And be it further enacted, That no association shall, either directly or indirectly, pledge or hypothecate any of its notes of circulation, for the purpose of procur ing money to he paid in on its capital stock, or to he used in its banking operations, or otherwise ; nor shall any association use its c...irculating notes, or any part thereof, in any manner or form, to create or increase its capital stock.
SEC. 38. And be it further enacted, That no association, or any member thereof, shall, during the time it shall con tinue its banking operations, withdraw, or permit to be withdrawn, either in form of dividends or otherwise, any portion of its capital.
And if losses shall at any time have been sustained by any such association equal to or exceeding its undivided profits then on hand, no dividend shall be made; and no dividend shall ever be made by any association, while it shall continue its banking operations, to an amount greater than its net profits then on hand, deducting therefrom its losses and bad debts.
What to read after Practical Information Concerning the Public Debt of the United States With the?
You can find similar books in the "Read Also" column, or choose other free books by William a William Adams Richardson to read onlineMoreLess
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