17:9A-211 - Liability secured by own stock

17:9A-211.  Liability secured by own stock No bank shall permit the incurring of any liability to it on the security of  shares of its own capital stock;  but a bank may take shares of its own capital  stock as security or additional security for a debt previously contracted in  good faith.

L.1948, c. 67, p. 349, s. 211.