 All patronage refunds shall be paid in the proportion that the amount of interest earned on the loans of each borrower bears to the total interest earned on the loans of all borrowers during the fiscal year.  Foreign Commerce Study - Page 88by United States. Congress. Senate. Committee on Interstate and Foreign Commerce - 1960 - 279 pagesFull view - About this book
 | United States. Farm Credit Administration - 1934 - 1028 pages
...banks shall issue a like amount of class C stock to the borrowers. All patronage refunds shall be paid in the proportion that the amount of interest earned...the loans of all borrowers during the fiscal year. (cl Distribution of assets on liquidation or dissolution In the case of liquidation or dissolution... | |
 | United States - 1971 - 1248 pages
...the association, also In money. As used In the second preceding sentence "on a patronage basis" means In the proportion that the amount of interest earned...the loans of all borrowers during the fiscal year. (June 16, 1933, ch. 98, title П, I 22, 48 Stat. 261; Aug. 11, 1955, c. 785, title П, §202, 69 Stat.... | |
 | United States. Congress. House. Committee on Agriculture - 1955 - 262 pages
...banks shall issue a like amount of class C stock to the borrowers. All patronage refunds shall be paid in the proportion that the amount of interest earned...the loans of all borrowers during the fiscal year. "(c) APPLICATION OK ASSETS ON LIQUIDATION OR DISSOLUTION. — In the case of liquidation or dissolution... | |
 | United States. Congress. Senate. Committee on Agriculture and Forestry - 1955 - 272 pages
...and would be paid in the , . proportion that the amount of interest earned by the bank on the loan of each borrower bears to the total interest earned on the loans of all borrowers from the bank during the fiscal year. The Central Bank would pay patronage refunds in its class O stock... | |
 | United States. Congress. Senate. Agriculture and Forestry Committee - 1955 - 238 pages
...stock and would be paid in the proportion that the amount of interest earned by the bank on the loan of each borrower bears to the total interest earned on the loans of all borrowers from the bank during the fiscal year. The Central Bank would pay patronage refunds in its class O stock... | |
 | United States. Congress. Senate. Committee on Interstate and Foreign Commerce - 1958 - 302 pages
...remaining, at the discretion of the board of directors, to the distribution of patronage refunds to be paid in the proportion that the amount of interest earned...the loans of all borrowers during the fiscal year. Mr. CHAPMAN. I would like to associate myself with the amendments to the differential construction... | |
 | United States. Congress. Senate. Agriculture and Forestry Committee - 1965 - 70 pages
...the association, also in money. As used in the second preceding sentence 'on a patronage basis' means in the proportion that the amount of interest earned...the loans of all borrowers during the fiscal year." ; and (b) by adding the following as a separate paragraph at the end of section 23 thereof (12 USC... | |
 | United States. Internal Revenue Service - 1973 - 824 pages
...may be allocated to borrowers in the form of Class "C" stock. "All patronage refunds shall be paid in the proportion that the amount of interest earned...the loans of all borrowers during the fiscal year." Ibid " Borrowers also receive at the end of each fiscal year an "allocated surplus" credit which is... | |
 | United States. Internal Revenue Service - 1965 - 1150 pages
...provided in section 36 (b), ie, "in ' stock" of the bank "in the proportion that the amount of interest on the loans of each borrower bears to the total interest earned on the f all borrowers during the fiscal year." new sentence added to section 36(b) as proposed, the amount... | |
| |
