Can you summarize NYCL BNK Article 13-D?

Short Summary

This legal document governs the misconduct of officers, directors, trustees, or employees of banking corporations and private bankers. It applies to directors, trustees, officers, and employees of banking corporations and private bankers. The document prohibits certain actions such as making loans or discounts to directors exceeding the allowed amount, making deposits with the understanding that loans will be made to directors, receiving deposits with the understanding that loans will be made to directors, intentionally concealing discounts or loans, and making agreements to allow early payment of certificates of deposit. Violation of this document is considered a misdemeanor. There are no exemptions mentioned in the document.

Whom does it apply to?

Directors, trustees, officers, and employees of banking corporations and private bankers

What does it govern?

Misconduct of officers, directors, trustees, or employees of banking corporations and private bankers

What are exemptions?

No exemptions mentioned

What are the Penalties?

Violation of this document is considered a misdemeanor

Jurisdiction

New York

Source

NYCL BNK Article 13-D [https://reggi.cloud.regology.com/regulations/US-NYCL/US-NYCL_T_BNK_A_13-D]

• Banking