Current through Pa Acts 2024-53, 2024-56 through 2024-111
Section 1912 - Prohibitions applicable to directors, trustees, officers, employes and attorneys(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.1965, Nov. 30, P.L. 847, No. 356, § 1912. Amended 1980, May 21, P.L. 173, No. 51, § 14, imd. effective.