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
l'binl. Such at shall be cooveyed to it in BatW'aetioo of debts pre"';ously
contracted 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"& debllJ
due to said assaci.ti()(l..
Such associations shall not purchase or hold real estate in any other
ease ()I' for any otber purpose than in IhiB section. Nor shall
it hold the po$56Uion of any real estate under mortgage. or hold the title
and po5seuion of any real estate purchased to M!tUl'fl any debt3 duc to it
for a longer period tban five years.
. , SEC. 29. And bdl forllter tJI{JC/ea, That the total liabilities to llIIy
:": ,:1.,:-::' IIlIsociation, of any pel'9On, of an! corporation, or firm. for
iliON IIwL, &c. money borrowed, iDcluding lD the liab,blles of a company or finn Ihe
liabilities of Lhe several members thereof, shal l at no time exceed one
tenth part of the amount of the capital _tock of sucil 1!j8()C;ation actWllly
paid in: Provirkd, That Ibe discount of bona ftde bilb of exchlnge
drawn against RI'llulllly values, and the discount or commercial or
bnsi nes3 paper actually owned by tbe pel':lOn or petlOns, corpof"llt.ioo, or
firm negotiating the same _hall not be eonsidered as mouey OOlTOwed.
Cerllill dlt-
not U! b
I.o.dmded.
Rate 01 tDW>

Aetioa 10'"
com ..... ""'" ill
1 .. 0,....,..
SO. 80. ARd iJ. fortAtr macUd, That every association may take,
reellive, reserve, and charge on any loon or discount made, or upon any
nole, bill of exehange, or olher evidences of 4ebt. inlerest at the rate
allo .... ed by the loWl of the state Of territory wbere the bank is located.
and no more, ucepl that .hoN! by the IawlI of any ftate a different rate
is limited for banks of issue organized under state Jaws, Ibe rale so limited
shall be allo .... ed for assoeiationforganize<:i in any sucb SUite under Ihis act.
And when no nue i. lbed by the lawe of tilt 61&lO Dr territory, the bank
may take, receive, :eserve, or charge A rate not. exceediog lleven per
aentum, and such interest may be taken in advance, reckoning the clap
for which the note, bill, or other evidence of debt has to nlo. And the
knowingly taking. receiving, reserving, or charging a rate of interest
greatu than aforesaid shall be held and adjudged a fDrfeiture of the entire
interest whieh tbe note, or other evidence of debt carries with h, Of
which has been agreed to be paid thereon. And in ease a grester mle of
bas been paid, the perron Of petlOns paying the same, or tbeir
legal representatives, may recover hack, in any action of debt, twiclI
amount of the ioterest thus paid from the usociation taking or receiring
tbe same: Provided, That luch action is commenced within two yearll
from the time the occurred. But the purehase, dis-
count, or sale of II. bona fido bilt of e..:ehange, paya.ble at another plaee
than tbe place of IUeb purchase, diseount, or sale, at more than the
current rate of exchange for aight drafts in addition to the interest, shall
not be eoosidlln!d B.s taking or receiving a greater TIlte of ioterest.
Amottllt of So. 81. .And btl iJ. jw-tkr tfuutul, 'l'h81 every associ.tion in the
IH klpt dtie5 hereina.fter named shall, at all time" ha.ve 00 band, in lawful m(lDey
011. of the United States, a.o amount equal to at least twenty-five per centum
of the aggregate Amount of its ues io circulation and its deposita ; and
every other B.9&OOiatiDo at all times. have on hand, in lawful OlODey
of the United States, an aOlount equal to at least fifteen per tentum of
the aggregllta amount of its notes in cireulntion, and of i\.9 deJXIsit,. And
whenever the lawful money of any auoeiation in any of the cities here-
io .. fter named ahall be below the .mount of twenty-live per centum of its
circulation and depollib, and wheof\'er the la .... ful tnmu:lY of any olber
_iMion shall be belo .... fifteen per tentum of ita drclllalion nnd de-
posita, Illch ll8Oociationl shall not increase its liabili ties by making BOY
new Ioall!l or otherwiM than by disoounting or purchasing bills
of exchange )"IAy_ble at eight, nor make -.tIy divideod of its profits uotil