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The Borrowers' Bulletin Volume 1 (Paperback) Loot Price: R514
Discovery Miles 5 140
The Borrowers' Bulletin Volume 1 (Paperback): United States Federal Bureau

The Borrowers' Bulletin Volume 1 (Paperback)

United States Federal Bureau

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Loot Price R514 Discovery Miles 5 140

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1917 Excerpt: ...bank is canceled and the stockholders in such association would lose the amount paid for such stock and be liable for another amount equal to the par value of their stock in such association. In such case the total liability of a borrower is equal to 10 per cent of the amount of his loan. In case of insolvency of the Federal land bank through which the borrower has made his loan, the stock owned by his association in such bank would be worthless, and therefore every member of every association who procured his loan from such bank would lose an amount equal to 5 per cent of his loan. (As to liability of stockholders, see par. 5, sec. 9; as to liability of farm loan associations, see sec. 25; as to liability of Federal land banks, see sec. 21; and as to insolvency of land bank or association, see sec. 29 of the Federal farm loan act.) Duties of borrowers. Every borrower should therefore be a watchdog of his association and prevent the making of loans for a higher amount than the act permits. The only way the safeguards of the act can be defeated is by dishonestly high appraisements. The loan committee should be fair, but in no case appraise the land and improvements offered higher than their fair market value. The loss to the association of one bad loan may destroy all prospect of the members ever receiving a dividend on the stock of the association, and numerous bad loans would canse it to become insolvent. If the stockholders in the association are ever to receive any dividends on tllelr stock, then the expenses of the association must be kept to a inin'ium and all possible losses avoided. So far the biggest loss to the associations has been the expense of the loan committee in appraising lands for loans which were rejected either by the committee or the la...


Imprint: Rarebooksclub.com
Country of origin: United States
Release date: March 2012
First published: March 2012
Authors: United States Federal Bureau
Dimensions: 246 x 189 x 7mm (L x W x T)
Format: Paperback - Trade
Pages: 128
ISBN-13: 978-1-130-01710-6
Categories: Books
LSN: 1-130-01710-9
Barcode: 9781130017106

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