No officer or employee of a state bank shall:
1. Receive anything of value for procuring, or attempting to procure, any loan or extension of credit resulting, or which would result, in an obligation, as defined in subsection 1 of section 524.904, to the state bank or for procuring, or attempting to procure, an investment by the state bank, of which the person is an officer or employee.
2. Overdraw the officer's or employee's deposit account in the state bank.
3. Engage, directly or indirectly, in the sale of any kind of insurance, shares of stock, bonds or other securities, or real property, or procure or attempt to procure for a fee or other compensation, a loan or extension of credit for any person from a person other than the state bank of which the person is an officer or employee, or act in any fiduciary capacity, unless authorized to do so by the board of directors of the state bank which shall also determine the manner in which the profits, fees, or other compensation derived therefrom shall be distributed.
[C31, 35, § 9221-c3, 9222-c2, 9283-c1; C39, § 9221.3, 9222.2, 9283.01; C46, 50, 54, 58, 62, 66, § 528.10, 528.12, 528.86; C71, 73, 75, 77, 79, 81, § 524.710]
Referred to in § 524.912, 524.1601
Iowa General Assembly
Search: Iowa Code 1995
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