Section 16
SEC. 16. No corporation organized under this Act shall create or issue bills, notes, or other evidence of debt for circulation .as money, and no corporation shall issue stock or bonds except in exchange for actual cash paid to the corporation or for property actually received by it at a fair valuation equal to the par value of the stock or bonds so issued. No corporation shall make or declare any stock or bond dividend or any dividend whatever except from the surplus profits arising from its business, or divide or distribute its capital stock or property other than actual profits among its members or stockholders until after the payment of its debts and the termination of its existence by limitation or lawful dissolution: Provided, however, That banking, savings and loan, and trust corporations may receive deposits and issue certificates of deposit, checks, drafts, and hills of exchange and the like in the transaction of the ordinary business of banking, savings and loan, and trust corporations.