Section 1413. Prohibitions Applicable to Directors, Trustees, Officers, Employes and Attorneys
(a) No director, trustee, officer, employe or attorney of an institution or of an affiliate of the institution shall:
(i) receive anything of value for procuring or attempting to procure any loan from or investment by the institution, or
(ii) ((ii) deleted by amendment)
(iii) purchase, or directly or indirectly be interested in purchasing, from the institution for less than its face value any promissory note or other evidence of indebtedness issued by the institution.
((a) amended Oct. 24, 2012, P.L.1336, No.170)
(b) A violation of this section shall be subject to the penalty provisions of this act.
(1413 amended May 21, 1980, P.L.173, No.51)