Congressional Edition Volume 2944

Congressional Edition Volume 2944

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1892 edition. Excerpt: ...a debt previously contracted, a national banking association may take a conveyanceof real estate worth more than the debt, and pay the difference between the debt and the value of the property. (Libby v. Union National Bank, 99 III., 622.) (d) Where a national banking association sells real estate it may take a mortgage thereon to secure the payment of the purchase-money. (New Orleans National Bank v. Raymond, 29 La. Ann., 355.) 11. Certificates Of Deposit: National banking associations may issue certificates of deposit. Suoh certificates are not post-notes within the prohibition of seotion 5183, Revised Statutes. (Hunt v. Appellant, Supreme Court of Mass., May 7, lt86; Riddle v. First National Bank, U. S. C. c. (W. D. Penn.), 27 Fed. Rep., 503.) 12. Lien On Dividends An association has equitable lien upon dividends declared for any just debt due to it from the shareholders. (Hager v. Union National Bank, 63 Me., 509.) 13. Contracts And Obligations Of Old Corporation: (a) Where a State bank has been converted into, a national banking associa. tion it may enforce all contracts made with it while a State corporation. (City National Bank v. Phelps, 97 N. Y., 44.) (b) And it is liable, after the conversion, for all the obligations of the oM institution. (Coffee v. The National Bank of Missouri, 46 Mo., 140; Kelsey v. The National Bank of Crawford, 69 Penn. St., 426.) (o) A national banking association organized as the successor of a State bank may take and hold the assets of the bank whose place it takes, though there was not in form a conversion from a State to a national corporation, but the organization of a new corporation. (Bank v. Melniire, 40 Ohio St., 528.) (d) And such association will be liable to the depositors of the more

Product details

  • Paperback
  • 189 x 246 x 6mm | 200g
  • United States
  • English
  • black & white illustrations
  • 123680290X
  • 9781236802903