...for defendants in error. FIELD, J. Section 5201 of the Revised Statutes declares that "no association shall make any loan or discount on the security of...acquired shall, within six months from the time of itspurchase, be sold or disposed of at public or private sale ; or, in default thereof, a receiver...

...delivered the opinion of the court. Section 5201 of the Revised Statutes declares that " no association shall make any loan or discount on the security of...prevent loss upon a debt previously contracted in i;ood faith ; and stock so purchased or acquired shall, within six months from the time of its purchase,...

...noto, 61 LRA 621. As to a banking corporation, the statutory provision is that "no bank shall * * * be the purchaser or holder of any such shares unless...its purchase, be sold or disposed of at public or privüte sale. After the expiration of six months any such stock shall not be considered as a part...

...section of our banking act above quoted. The provision in the federal act is as follows: "No association shall make any loan or discount on the security of...own capital stock, nor be the purchaser or holder of auy such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previouly...

...any of its funds in the stock of any other bank or corporation, nor make any loans or discounts mi the security of the shares of Its own capital stock,...holder of any such shares unless such security or purchas.shall he necessary to prevent loss upon a debt previously contracted In good faith; and stork...

...security of the shares of its own capital stock, and prohibit, also, every bank from purchasing or holding any such shares, unless such security or purchase...loss upon a debt previously contracted in good faith. Surely an implication is inadmissible which contradicts either the letter or the spirit of the act....

...5,201 US Rev. Stat.), under which act the said bank was organ ized, provides : " That no association shall make any loan or discount on the security of...stock, nor be the purchaser or holder of any such stock, unless such security or purchase shall he necessary to prevent loss on a debt previously contracted...

...Associations not to Loan upon their own Stock.> SECTION 5201. — No association shall make any loan 0r discount on the security of the shares of its own...be sold or disposed of at public or private sale, or, in default thereof, a receiver may be appointed to close up the business of the association, according...

...thousand dollars. § 35. (5201.) Banks not to loan on or purchase their own Stock.1 — No association shall make any loan or discount on the security of...purchase, be sold or disposed of at public or private sale ; or, in default thereof, a receiver may be appointed to close up the 1 § 135. Bank». Lanier, 11...

...1881 a new section was added to the prior banking law designated section 48, which is: "No association shall make any loan or discount on the security of...contracted in good faith; and stock so purchased or required shall, within six (6) months from the time of its purchase, be sold or disposed of at public...