Hinds v. Marmolejo

Citations

• 60 Cal. 229
• 1882 Cal. LEXIS 430

Syllabus

<p>National Bank—Limitation on Rate of Intebest.—Section 38 of the National Banking Act (Rev. Stats. § 5197) provides: “Every association organized under this Act may take, receive, reserve and charge on any loans * * * interest at the rate allowed by the laws of the State or Territory where the bank is located, and no more; except that where by the laws of the State, a different rate is limited for banks of issue organized under State laws, the rate so limited shall be allowed every association organized in any State under this Act.”</p> <p>Held: Under this section—construed with §1918 0. O.—the national banks in this State are allowed to charge and receive such rates of interest as may be agreed upon.</p>