(a) Neither the Bank Commissioner nor any employee or officer of the State Bank Department who participates in the examination of a trust institution, or who may be called upon to make an official decision or determination affecting the operation of a trust institution, shall be an officer, director, attorney, owner, or holder of stock in any state trust company, or any company which owns or controls a state trust company, or receive, directly or indirectly, any payment or gratuity from any such organizations. A person subject to this section may not borrow money from a state trust company.
(b) A person subject to this section may:
(1) Be a depositor in any trust institution that the department regulates; and
(2) Purchase trust or fiduciary services, other than credit services, under rates and terms generally available to other customers of the trust institution.
Section: Previous 23-51-186 23-51-187 23-51-188 23-51-189 23-51-190 23-51-191 23-51-192 23-51-193 23-51-194 23-51-195 23-51-196 23-51-197 23-51-198 23-51-199 NextLast modified: November 15, 2016