1. Regulations
  2. title 12
  3. chapter II
  4. part 215
  5. § 215.6

View all text of Part 215 [§ 215.1 - § 215.12]

§ 215.6 - Prohibition on knowingly receiving unauthorized extension of credit.

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.

AUTHORITY: 12 U.S.C. 248(a), 375a(10), 375b(9) and (10), 1468, 1817(k), 5412; and Pub. L. 102-242, 105 Stat. 2236 (1991) (12 U.S.C. 1811 note).

SOURCE: Reg. O, 59 FR 8837, Feb. 24, 1994, unless otherwise noted.

CITE AS: 12 CFR 215.6