Chapter 3516. To amend section fifty-two hundred, Revised Statutes of the United States, relating to national banks
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CHAP. 3516.— An Act To amend section fifty-two hundred, Revised Statutes of the United States, relating to national banks. June 22, 1906. [[H. R. 8973](/us/bill/59/hr/8973).] [[Public, No. 269](/us/pl/59/269).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, National banks. That section fifty-two hundred of the Revised Statutes of the United States be, and the same is hereby, amended to read as follows: " “Sec. 5200.
The total liabilities to any association, of any person,Limit to liabilities persons may incur, increased.[R. S., sec. 5200, p. 1005](/us/rs/s5200/p1005), amended. or of any company, corporation, or firm for money borrowed, including in the liabilities of a company or firm the liabilities of the several members thereof, shall at no time exceed one-tenth part of the amount of the capital stock of such associations, actually paid in and unimpaired and one-tenth part of its unimpaired surplus fund: *Provided*,*Proviso*.Maximum.* however*, That the total of such liabilities shall in no event exceed thirty per centum of the capital stock of the association.
But theCommercial discounts not included. discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by the person negotiating the same shall not be considered as money borrowed.” " Approved, June 22, 1906.