General Statutory Provisions in Connection With the Above Relating to Bank Acceptances Based on Imports and Exports

Limitation of amount; exception. - No member bank is permitted to accept, whether in a foreign or domestic transaction, for any one person, company, firm, or corporation, to an amount equal at any time in the aggregate to more than ten percentum of its paid up and unimpaired capital and surplus, unless the bank is secured either by attached documents or by some other actual security growing out of the same transaction as the acceptance.