An Act respecting Banks

Contents
An Act respecting Banks.
 * Preamble.
 * 1. Banks may have branches in any part of Canada.
 * 2. Banks in Nova Scotia and New Brunswick to pay duty on their circulation as in Quebec and Ontario.
 * Amount of duty.
 * 3. Banks may hold and dispose of mortgages as collateral security.
 * 4. May purchase and hold lands mortgaged.
 * 5. May acquire an absolute title therein.
 * 6. May act on power of sale, &c.
 * 7. Banks and others may advance monies on Bills of lading, specifications, warehouse receipts &c.
 * May sell the goods in case of non-payment of monies so advanced.
 * 8. Period of holding the same in pledge limited.
 * Notice of sale to be given.
 * 9. Case of the warehouseman &c., being also the owner of the goods provided for.
 * Penalty for wilful false Statement in the receipt, &c.
 * 10. Advances on such security to give a prior lien.
 * 11. Advance on receipts of Cove-keepers, &c., for timber.
 * Effect of the transfer of such receipt, &c.
 * Power to sell in case of non-payment of advances.
 * 12. If the Cove-keeper, &c., be himself the owner of the lumber.
 * 13. Period of holding the lumber in pledge limited.
 * Notice of sale how to be given.
 * 14. Advances on such security to give priority of lien.
 * 15. Punishment of persons giving false receipts, &c., under this Act.
 * Or accepting or using the same knowingly.
 * 16. If the offence be committed in the name of a firm.
 * 17. Banks exempted from penalty for usury.
 * Rate of interest recoverable.
 * May allow any rate.
 * 18. Rates of premium on notes discounted elsewhere than where payable, but payable at any branch of the Bank discounting.
 * 19. The same when payable elsewhere than at a branch of the Bank discounting.
 * 20. Duration of this Act.