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Can the Chartered Banks Require Security for Loans Outside the Types

Question 6

Multiple Choice

Can the chartered banks require security for loans outside the types indicated in the federal Bank Act?


A) Yes, guarantees by third party.
B) Yes, warehouse receipts and order bills of lading.
C) No, only those types of security listed in the Act.
D) Yes, pledge of shares and bonds.
E) Yes, assignment of book debts.

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