State Codes and Statutes

Statutes > New-york > Bnk > Article-13-d > 660

§ 660.  Misconduct  of  officers, directors, trustees, or employees of  banking  corporations  and  of  private  bankers.  A   director   of   a  corporation,  organized  under  the  laws  of this state, having banking  powers, who concurs in  any  vote  or  act  of  the  directors  of  such  corporation,  or  any of them, by which it is intended to make a loan or  discount to any director of such corporation, or upon paper  upon  which  any  such  director  is liable or responsible to an amount exceeding the  amount allowed  by  statute;  or,  any  director,  trustee,  officer  or  employee  of  any corporation to which the banking law is applicable who  makes or maintains, or attempts to make or maintain, a deposit  of  such  corporation's funds with any other corporation on condition, or with the  understanding,  express  or implied, that the corporation receiving such  deposit make a loan or advance, directly or indirectly, to any director,  trustee, officer or employee of the corporation so making or maintaining  or attempting to  make  or  maintain  such  deposit;  or  any  director,  trustee, officer, or employee of any banking corporation organized under  the laws of another state which is doing business in New York, who makes  or  maintains,  or  attempts  to  make  or  maintain,  a deposit of such  corporation's funds with any banking organization or  any  branch  of  a  foreign banking corporation licensed under article five of this chapter,  on  condition,  or  with the understanding, express or implied, that the  banking organization or branch receiving such deposit  make  a  loan  or  advance,  directly  or  indirectly, to any director, trustee, officer or  employee of  such  banking  corporation  so  making  or  maintaining  or  attempting  to  make or maintain such deposit; or any director, trustee,  officer, or employee of any banking organization or any branch or agency  of a foreign banking corporation licensed under  article  five  of  this  chapter  who  receives,  or attempts to receive, a deposit of funds from  any other banking organization, or  any  national  banking  association,  federal savings and loan association, federal credit union, or a banking  corporation  organized  under  the  laws of another state or country, on  condition, or with the understanding,  express  or  implied,  that  such  banking  organization  or  foreign  banking  corporation  licensed under  article five of this chapter receiving, or attempting to  receive,  such  deposit make a loan or advance, directly or indirectly, to any director,  trustee,  officer  or  employee  of  the  banking organization, national  banking association,  federal  savings  and  loan  association,  federal  credit  union or banking corporation organized under the laws of another  state or country, so making or attempting to make, such deposit; or, any  officer or employee of any corporation  to  which  the  banking  law  is  applicable  who intentionally conceals from the directors or trustees of  such corporation any discounts or loans made by it between  the  regular  meetings  of  its board of directors or trustees, or the purchase of any  securities or the sale of any of its securities during the same  period,  or  knowingly fails to report to its board of directors or trustees when  required to do so by law, all discounts or loans  made  by  it  and  all  securities  purchased  or sold by it between the regular meetings of its  board of directors or trustees; or any director, officer or employee  of  a  bank or trust company, or a private banker or his employee, who makes  any agreement express or implied, before or at the  time  of  issuing  a  certificate  of  deposit,  by  which  its  holder  may demand or receive  payment thereof in advance of its maturity, is guilty of a  misdemeanor.  Nothing  in  this section shall render any loan made by the directors of  any such corporation, in violation thereof, invalid.

State Codes and Statutes

Statutes > New-york > Bnk > Article-13-d > 660

§ 660.  Misconduct  of  officers, directors, trustees, or employees of  banking  corporations  and  of  private  bankers.  A   director   of   a  corporation,  organized  under  the  laws  of this state, having banking  powers, who concurs in  any  vote  or  act  of  the  directors  of  such  corporation,  or  any of them, by which it is intended to make a loan or  discount to any director of such corporation, or upon paper  upon  which  any  such  director  is liable or responsible to an amount exceeding the  amount allowed  by  statute;  or,  any  director,  trustee,  officer  or  employee  of  any corporation to which the banking law is applicable who  makes or maintains, or attempts to make or maintain, a deposit  of  such  corporation's funds with any other corporation on condition, or with the  understanding,  express  or implied, that the corporation receiving such  deposit make a loan or advance, directly or indirectly, to any director,  trustee, officer or employee of the corporation so making or maintaining  or attempting to  make  or  maintain  such  deposit;  or  any  director,  trustee, officer, or employee of any banking corporation organized under  the laws of another state which is doing business in New York, who makes  or  maintains,  or  attempts  to  make  or  maintain,  a deposit of such  corporation's funds with any banking organization or  any  branch  of  a  foreign banking corporation licensed under article five of this chapter,  on  condition,  or  with the understanding, express or implied, that the  banking organization or branch receiving such deposit  make  a  loan  or  advance,  directly  or  indirectly, to any director, trustee, officer or  employee of  such  banking  corporation  so  making  or  maintaining  or  attempting  to  make or maintain such deposit; or any director, trustee,  officer, or employee of any banking organization or any branch or agency  of a foreign banking corporation licensed under  article  five  of  this  chapter  who  receives,  or attempts to receive, a deposit of funds from  any other banking organization, or  any  national  banking  association,  federal savings and loan association, federal credit union, or a banking  corporation  organized  under  the  laws of another state or country, on  condition, or with the understanding,  express  or  implied,  that  such  banking  organization  or  foreign  banking  corporation  licensed under  article five of this chapter receiving, or attempting to  receive,  such  deposit make a loan or advance, directly or indirectly, to any director,  trustee,  officer  or  employee  of  the  banking organization, national  banking association,  federal  savings  and  loan  association,  federal  credit  union or banking corporation organized under the laws of another  state or country, so making or attempting to make, such deposit; or, any  officer or employee of any corporation  to  which  the  banking  law  is  applicable  who intentionally conceals from the directors or trustees of  such corporation any discounts or loans made by it between  the  regular  meetings  of  its board of directors or trustees, or the purchase of any  securities or the sale of any of its securities during the same  period,  or  knowingly fails to report to its board of directors or trustees when  required to do so by law, all discounts or loans  made  by  it  and  all  securities  purchased  or sold by it between the regular meetings of its  board of directors or trustees; or any director, officer or employee  of  a  bank or trust company, or a private banker or his employee, who makes  any agreement express or implied, before or at the  time  of  issuing  a  certificate  of  deposit,  by  which  its  holder  may demand or receive  payment thereof in advance of its maturity, is guilty of a  misdemeanor.  Nothing  in  this section shall render any loan made by the directors of  any such corporation, in violation thereof, invalid.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Bnk > Article-13-d > 660

§ 660.  Misconduct  of  officers, directors, trustees, or employees of  banking  corporations  and  of  private  bankers.  A   director   of   a  corporation,  organized  under  the  laws  of this state, having banking  powers, who concurs in  any  vote  or  act  of  the  directors  of  such  corporation,  or  any of them, by which it is intended to make a loan or  discount to any director of such corporation, or upon paper  upon  which  any  such  director  is liable or responsible to an amount exceeding the  amount allowed  by  statute;  or,  any  director,  trustee,  officer  or  employee  of  any corporation to which the banking law is applicable who  makes or maintains, or attempts to make or maintain, a deposit  of  such  corporation's funds with any other corporation on condition, or with the  understanding,  express  or implied, that the corporation receiving such  deposit make a loan or advance, directly or indirectly, to any director,  trustee, officer or employee of the corporation so making or maintaining  or attempting to  make  or  maintain  such  deposit;  or  any  director,  trustee, officer, or employee of any banking corporation organized under  the laws of another state which is doing business in New York, who makes  or  maintains,  or  attempts  to  make  or  maintain,  a deposit of such  corporation's funds with any banking organization or  any  branch  of  a  foreign banking corporation licensed under article five of this chapter,  on  condition,  or  with the understanding, express or implied, that the  banking organization or branch receiving such deposit  make  a  loan  or  advance,  directly  or  indirectly, to any director, trustee, officer or  employee of  such  banking  corporation  so  making  or  maintaining  or  attempting  to  make or maintain such deposit; or any director, trustee,  officer, or employee of any banking organization or any branch or agency  of a foreign banking corporation licensed under  article  five  of  this  chapter  who  receives,  or attempts to receive, a deposit of funds from  any other banking organization, or  any  national  banking  association,  federal savings and loan association, federal credit union, or a banking  corporation  organized  under  the  laws of another state or country, on  condition, or with the understanding,  express  or  implied,  that  such  banking  organization  or  foreign  banking  corporation  licensed under  article five of this chapter receiving, or attempting to  receive,  such  deposit make a loan or advance, directly or indirectly, to any director,  trustee,  officer  or  employee  of  the  banking organization, national  banking association,  federal  savings  and  loan  association,  federal  credit  union or banking corporation organized under the laws of another  state or country, so making or attempting to make, such deposit; or, any  officer or employee of any corporation  to  which  the  banking  law  is  applicable  who intentionally conceals from the directors or trustees of  such corporation any discounts or loans made by it between  the  regular  meetings  of  its board of directors or trustees, or the purchase of any  securities or the sale of any of its securities during the same  period,  or  knowingly fails to report to its board of directors or trustees when  required to do so by law, all discounts or loans  made  by  it  and  all  securities  purchased  or sold by it between the regular meetings of its  board of directors or trustees; or any director, officer or employee  of  a  bank or trust company, or a private banker or his employee, who makes  any agreement express or implied, before or at the  time  of  issuing  a  certificate  of  deposit,  by  which  its  holder  may demand or receive  payment thereof in advance of its maturity, is guilty of a  misdemeanor.  Nothing  in  this section shall render any loan made by the directors of  any such corporation, in violation thereof, invalid.