§ 215.6. Prohibition on knowingly receiving unauthorized extension of credit.
46 words·~1 min read·
/us/cfr/t12/s§ 215.6·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No executive officer, director, or principal shareholder of a member bank or any of its affiliates shall knowingly receive (or knowingly permit any of that person's related interests to receive) from a member bank, directly or indirectly, any extension of credit not authorized under this part.