TITLE 4: ECONOMIC RESOURCES
DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS
§ 6803. Unlawful Service as Officer or Director. It is unlawful for any person to serve as an officer or director of a bank who: (a) Is an officer, director or employee of a directly competitive bank. (b) Has been convicted of an offense constituting in the jurisdiction in which the judgment was rendered a violation of the banking laws, a felony having as one of its necessary elements a fraudulent act or an act of dishonesty in the solicitation of, acceptance, custody, or payment of money or property or a breach of trust. (c) Is indebted to the bank for more than 30 days upon a judgment that has become final. (d) Has an interest adverse to the bank unless such interest is promptly and fully disclosed in writing to its board of directors or trustees. Source: PL 3-104, § 1002.