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§ 1413. Prohibitions applicable to directors, trustees, officers, employes and attorneys

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 7 P.S. Banks and BankingEffective: December 24, 2012

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 7 P.S. Banks and Banking (Refs & Annos)
Banking Code of 1965 (Refs & Annos)
Chapter 14. Directors or Trustees; Officers, Employees and Attorneys (Refs & Annos)
Effective: December 24, 2012
7 P.S. § 1413
§ 1413. Prohibitions applicable to directors, trustees, officers, employes and attorneys
Currentness
(a) No director, trustee, officer, employe or attorney of an institution or of an affiliate of the institution shall:
(i) receive anything of value for procuring or attempting to procure any loan from or investment by the institution, or
(ii) Deleted by 2012, Oct. 24, P.L. 1336, No. 170, § 43, effective in 60 days [Dec. 24, 2012].
(iii) purchase, or directly or indirectly be interested in purchasing, from the institution for less than its face value any promissory note or other evidence of indebtedness issued by the institution.
(b) A violation of this section shall be subject to the penalty provisions of this act.

Credits

1965, Nov. 30, P.L. 847, No. 356, § 1413. Amended 1980, May 21, P.L. 173, No. 51, § 10, imd. effective; 2012, Oct. 24, P.L. 1336, No. 170, § 43, effective in 60 days [Dec. 24, 2012].
7 P.S. § 1413, PA ST 7 P.S. § 1413
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document