(1) It is a criminal offense for an affiliate of a state bank or for an officer, director, or employee of a state bank or affiliate of a state bank:
To solicit, accept, or agree to accept, directly or indirectly, from any person otherthan the institution, any gratuity, compensation, or other personal benefit for any action taken by the institution, or for endeavoring to procure any such action;
To have any interest, direct or indirect, in the purchase at less than its face value ofany evidence of indebtedness issued by the institution.
(2) In this section and section 11-105-101 (5), the term "affiliate" of a state bank shall include:
Any person who holds a majority of the stock of the bank or has been determined bythe banking board to hold a controlling interest therein, any other corporation in which such person owns a majority of the stock, and any partnership in which such person has an interest;
Any corporation in which the state bank or an officer, director, or employee thereofholds a majority of the stock and any partnership in which such person has an interest;
Any corporation of which a majority of the directors are officers, directors, or employees of the state bank or of which officers, directors, trustees, or employees constitute a majority of the directors of the state bank.
Source: L. 2003: Entire article added with relocations, p. 1135, § 3, effective July 1.
Editor's note: This section is similar to former § 11-11-104 as it existed prior to 2003.