1901 public laws – Ch.769 Sec.6
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CHAPTER 769 An act to provide for the State Banking System of North Carolina. The General Assembly of North Carolina do enact:
Demand loans on warehouse receipts upon advance of money, repayable on demand upon warehouse receipts, bills of lading, certificates of stock, certificates of deposit, bills of exchange, bonds, notes or other negotiable instruments, pledged as collateral security for such repayment; any bank organized under this act may receive or contract to receive and collect as compensation for making such advances, any sum, to be agreed upon in writing, by the parties to such transaction.