8/22/2019 1 NationalBankAct Pg 108

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108 THIRTY-EIGHTH CONGRESS. Sus. I. Cn . 106. 1864.Seoond. Such as aball be mortgaged to it in good faith b , way of see\l.rilT. for deblll prev)ously o o J l l . r & e ~ .l'binl. Such a t shall be cooveyed to it in BatW'aetioo of debts pre"';ouslycontracted in the course of its dealingl.Fourth. Such as it shall purcbase at MIa under judgmentl, deerees,or mortgages held by such at8Oeiatioo, or .hall purchase to Ie(lUI"& debllJdue to said assaci.ti()(l..Such associations shall not purchase or hold real estate in any otherease ()I' for any otber purpose than a 8 ~ f i . e d in IhiB section. Nor shalli t hold the po$56Uion of any real estate under mortgage. or hold the titleand po5seuion of any real estate purchased to M!tUl'fl any debt3 duc to itfor a longer period tban five years.N o ~ r o o n , & . SEC. 29. And bdl forllter tJI{JC/ea, That the total liabilities to llIIy

:": ,:1. , :-:: ' IIlIsociation, of any pel'9On, of an! ~ ~ p a n y , corporation, or firm. foriliON IIwL, &c. money borrowed, iDcluding lD the liab,blles of a company or finn Iheliabilities of Lhe several members thereof, shal l at no time exceed onetenth part of the amount of the capital _tock of sucil 1!j8()C;ation actWlllypaid in: Provirkd, That Ibe discount of bona ftde bilb of exchlngedrawn against RI'llulllly e ~ i s l . i n g values, and the discount or commercial or

bnsines3 paper ac tually owned by tbe pel':lOn or petlOns, corpof"llt.ioo, orfirm negotiating the same _hall not be eonsidered as mouey OOlTOwed.

Cerllill dlt-C O \ I ~ g not U! bI.o.dmded.

Rate 01 tDW>~ .

Aetioa 10'"com .....""'" ill1 .0,....,..

SO. 80 . ARd ~ iJ. fortAtr macUd, That every association may take,reellive, reserve, and charge on any loon or discount made, or upon anynole, bill of exehange, or olher evidences of 4ebt. inlerest at the rateallo ...ed by the loWl of the state Of territory wbere the bank is located.and no mo re, ucepl that .hoN! by the IawlI of any ftate a different rateis limited for banks of issue organized under state Jaws, Ibe rale so limitedshall be allo ...ed for assoeiationforganize