(a) This section does not apply to: (1) Any readily marketable bond or like obligation that is held by a commercial bank as an investment; (2) Any loan that is made to this State or to a political subdivision and that matures in less than 1 year; (3) Any loan of $3,500 or less, unless that loan exceeds 20 […]
(a) A commercial bank may accept for payment at a later date a draft issued in connection with a transaction that involves the importation, exportation, or domestic shipment of goods, if the draft: (1) Is payable not more than 6 months after the date of acceptance; and (2) When accepted, is accompanied by a document of title. (b) A […]
(a) This section does not apply to a leasehold interest in real property. (b) Subject to the rules and regulations of the Commissioner, a commercial bank may become the owner and lessor of personal property if: (1) The personal property is acquired on the specific request of and for the use of a customer; and (2) The investment of […]
(a) An officer, employee, or agent of a commercial bank may not certify any draft drawn on the commercial bank unless the drawer has on deposit an amount equal to at least the amount of the draft. (b) If a draft is certified in violation of this section by a person who is authorized to certify drafts, […]
(a) (1) In this section the following words have the meanings indicated. (2) “Demand deposit” means a deposit that is payable within 30 days. (3) (i) “Time deposit” means a deposit that is payable after 30 days. (ii) “Time deposit” includes a savings account or certificate of deposit that requires at least a 30–day notice before payment. (b) This section does not […]
