National Bank Amendments, Hearing Before a Subcommittee of ..., 84-1 on S.1187, S.1188, S.1189, and S.1736 ..., May 2, 1955

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Página 36 - ... loans made to finance the construction of residential or farm buildings and having maturities of not to exceed nine months, shall not be considered as loans secured by real estate within the meaning of this section but shall be classed as ordinary commercial loans whether or not secured by a mortgage or similar lien on the real estate upon which the building or buildings are being constructed: Provided. That no national banking association shall invest in. or be liable on, any such loans in an...
Página 7 - ... may pay upon such time deposits or upon savings or other deposits shall not exceed the maximum rate authorized by law to be paid upon such deposits by State banks or trust companies organized under the laws of the State in which such association is located.
Página 6 - ... any national banking association may purchase any obligation so secured when the entire amount of such obligation is sold to the association.
Página 6 - Currency, on a leasehold (1) under a lease for not less than ninety-nine years which is renewable or (2) under a lease having a period of not less than fifty years...
Página 7 - The amount of any such loan hereafter made shall not exceed 50 per centum of the appraised value of the real estate offered as security and no such loan shall be made for a longer term than...
Página 2 - Currency, and publication thereof to be made for a period of two months in a newspaper published in the city of New York, and also in a newspaper published in the city or town in which the association is located, or if no newspaper is there published, then in the newspaper published nearest thereto, that the association is closing up its affairs, and notifying the holders of its notes and other creditors to present the notes and other claims against the association for payment.
Página 36 - Notes representing loans made under this section to finance the construction of residential or farm buildings and having maturities of not to exceed nine months shall be eligible for discount as commercial paper within the terms of the second paragraph of section 13 of...
Página 35 - ... 60 percent of the appraised value of the real estate offered as security and for a term not longer than 10 years, if the loan is secured by an amortized mortgage, deed of trust, or other such instrument under...
Página 36 - Loans made to finance the construction of industrial or commercial buildings and having maturities of not to exceed eighteen months where there is a valid and binding agreement entered into by a financially responsible lender to advance the full amount of the bank's loan upon completion of the buildings...
Página 6 - A loan secured by real estate within the meaning of this section shall be in the form of an obligation or obligations secured by mortgage, trust deed or other such instrument upon real estate...

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