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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) No director, trustee, officer, employe or attorney of a private bank or of an affiliate of the private bank shall:
(i) receive anything of value for procuring or attempting to procure any loan from or investment by the private bank,
(ii) overdraw his deposit account in the private bank, or
(iii) purchase, or directly or indirectly be interested in the purchase, from the private bank for less than its face value of any promissory note or other evidence of indebtedness issued by the private bank.
(b) A violation of this section shall be subject to the penalty provisions of this act.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 7 P.S. Banks and Banking § 1912. Prohibitions applicable to directors, trustees, officers, employes and attorneys - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-7-ps-banks-and-banking/pa-st-sect-7-1912/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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