Page:United States Statutes at Large Volume 13.djvu/136

 108 THIRTY-EIGHTH CON GBESS. Sess. I. Ch. 106. 1864. Real mate- Second. Such as shall be mortgaged to it in good faith by way of secu. rity for debts previously contracted. Third. Such as shall be conveyed to it in satisfaction of debts previously contracted in the course of its dealings. Fourth. Such as it shall purchase at sales under judgments, decrees, or mortgages held by such association, or shall purchase to secure debts due to said association. Such associations shall not purchase or hold real estate in any other case or for any other purpose than as specified in this section. Nor shall it hold the possession of any real estate under mortgage, or hold the title and possession of any real estate purchased to secure any debts due to it for a longer period than five years. I ~ · t0§g%;¤§£3¤€f¤¤·» Sec. 29. And be it further enacted, That the total liabihties to any nsocmion for association, of any person, or of any company, corporation, or firm for more than,&c. money borrowed, including in the Eabglgies app a company or tiiznii the liabilities of the several members ther, sh at no time exce one tenth part of the amount of the capital stock of such association actually Gcrtuin dis- paid in: Provided, That the discount of bona fide bills of exchange f;;';';;? °° b drawn against actually existing values, and the discount of commercial or business pa er actua owned b the person or persons, cor oration, or firm negotidlaing the salne shall ndl: be considered as money bolirowed. Rate of inter- Sec. 30. And be it further enacted, That every association may take, m" receive, reserve, and charge on any loan or discount made, or upon any note, bill of exchange, or other evidences of debt, interest at the rate allowed by the laws of the state or territory where the bank is located, and no more, except that where by the laws of any state a different rate 1; lpmgted lfor bgrpks of issneferganized uiéder state lay]vs,g:t; rats so pmiteid s a e a owe or associa ions organize in any suc s un ert is ac And when no rate is Hxed by the laws of the state or territory, the bank may take, geceiye, reserve, or ghargp a rate not exceeding seven per centum, an suc interest ma e ta en in advance, reckonin the da s mggnalty for for which the note, bill, or othlzr evidence of debt has to run.g And tile ,um£t$'°““" knowingly taking, receiving, reserving, or charging a rate of interest greater than aforesaid shall be held and adjudged a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it, or which has been agreed to be paid thereon. And in case a greater rate of interest has been paid, the person or persons paying the same, or their legal representatives, may recover back,'in any action of debt, twice the _ amount of the interest thus paid from the association taking or receiving wggjsxglss the same: Provided, That such action is commenced within two years from the time the usurioustransaction occurred. B t th h distwo years. l L1 6 pllrc aS€, count, or sale of a bona fide bill of exchange, payable at another place than the place of such purchase, discount, or sale, at not more than the current rate of exchange for sight drafts in addition to the interest, shall not be considered as taking or receiving a greater rate of interest. m3i'é‘;’¥‘€€»3‘k»a a£5%.?3i;.€Z£!.bZ.é$ gif". ”T{'€""" f”‘“ °"'i.'"" 3”°°l“”'E"i l” ”`° a a ,a a imes ave on an ,1n aw u mone M baud' of the United States, an amount equal to at least twenty-five per centum}; of the aggregate amount of its notes in circulation and its deposits; and every other association shall, at all times, have on hand, in lawful money of the United States, an amount equal to at least fifteen per centum of th; aggregge iamglupt of its mpes in circulation, and of its deposits. And w enever e aw n mone o an association in an of the cities hereinafter named shall be beloiz the amount of twenty-fide per centum of its circulation and deposits, and whenever the lawful money of any other attire M g'§1Z‘€2”Z`.Y§l. S§`;]Z.iE‘§.l.Zl°§{.§iii“8§“. ‘*°'...Z““‘2. if l,‘i·F“`°`€”°“€“d d6` · i ~ o in e 1 ia nies ma in any $3,gi ;:;,,r;x°g‘, new loans or discounts otherwise than by discounting or pmphasinggbills made good. of exchange payable at sight, nor make any dividend of its profits until