§ 42-14-6.1 - Application for or acceptance of loan by bank examiner.
SECTION 42-14-6.1
§ 42-14-6.1 Application for or acceptanceof loan by bank examiner. – Every examiner or assistant examiner authorized by law to report the conditionof a financial institution incorporated under the laws of this state –including, but not limited to, banks, savings banks, bank associations, trustcompanies, loan and investment companies, savings and loan companies, buildingloan associations, credit unions, deposit insurance companies, and any otherdepository required by law to file reports with the director of businessregulation – who applies for or accepts or is granted a loan of any kind,whether in his or her name or in the name of a member of his or her immediatefamily, or in the name of a business or partnership in which he or she has asubstantial interest, from any financial institution examined by him or her atany time, shall be required to report the same in writing to the director ofbusiness regulation within five (5) business days. A violation of this sectionmay be a ground for disqualification or suspension of license.