(a) Neither the Lieutenant Governor nor any representative of the Lieutenant Governor, nor any member of the Banking Board or employee thereof, nor any bank examiner shall, during the discharge of his office—
(1) be an officer, director or employee in any bank, foreign bank, bank incorporated and organized under the National Bank Act (12 U.S.C. § 12 et seq.) and laws amendatory thereof or supplementary thereto, or company affiliated therewith;
(2) own or deal directly or indirectly in the shares or obligations of such bank, foreign bank, or affiliated company;
(3) be interested in or receive directly or indirectly from such bank, foreign bank, or affiliated company, or from any of its officers, directors or employees, any salary, gratuity, compensation or other thing of value by way of gift, credit, compensation for services, or for any other reason; or
(4) be interested in, or under obligation to negotiate, any loan, obligation or settlement for another person with such bank, foreign bank, or affiliated company. Any violation of this subsection by any official or employee referred to herein shall be sufficient cause for his removal from office by the Governor.
(b) Notwithstanding the provisions of subsection (a) of this section, any official or employee referred to in such subsection may own or keep one or more banking accounts, either commercial or savings, and may rent safe-deposit boxes, in any bank, foreign bank, or affiliated company referred to in such subsection and doing business in the United States Virgin Islands, and may obtain a secured loan from any such bank, foreign bank, or affiliated company. Any member of the Banking Board may borrow from a bank or foreign bank on a secured loan with full disclosure to the Banking Board within ten days after obtaining the loan.