6-351. Definitions In this article, unless the context otherwise requires: 1. " Capital" means the aggregate primary capital and secondary capital. 2. " Obligation" means a primary or contingent liability for the payment of money. 3. " Person" includes an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership, joint […]
6-352. Limitations of obligations to a bank; exceptions; definitions A. A bank may lend to a single borrower an amount equal to not more than twenty percent of its capital, plus an amount equal to an additional ten percent of its capital if the additional amounts are fully secured by readily marketable collateral that has […]
6-353. Obligations of directors, officers and employees; reports A. No bank shall make any loan to any of its own directors, officers or employees that shall cause the outstanding loans of the bank to such person to exceed one percent of the capital account of the bank unless the loan is expressly authorized by the […]
6-354. Loans on capital stock or capital obligations of a bank No bank shall take or hold its capital stock or its capital obligations as security for an obligation to the bank unless such security is necessary to prevent loss on an obligation previously contracted.
6-355. Change loans A bona fide change loan of ten thousand dollars or less, for a term not to exceed four days, which entails the services of furnishing coins or currency in specific amounts required by the borrower, may be compensated for, at the option of the bank, in lieu of interest, by a service […]
