§ 10-109. Conflicts of interest -- Other prohibited activities

Latest version.

   (a) In general. -- Except as provided in subsection (b) of this section, the Fund Director and employees of the Fund may not:

   (1) Become indebted to any member association; or

   (2) Engage or be interested in the sale of securities of or in the negotiation of loans for others to or with any member association.

(b) Exception. -- This section does not apply to a loan that a member association makes to a depositor if the loan is less than the amount of the deposit.

(c) Penalty for violation. -- Any person who violates any provision of this section is subject to dismissal.

HISTORY: 1985, 1st Sp. Sess., ch. 6, § 3.

                    
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