§215.6. Prohibition on knowingly receiving unauthorized extension of credit.
12 C.F.R. § 215.6
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.
Notes, amendments, and revision history
Authority
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
Source: Reg. O, 59 FR 8837, Feb. 24, 1994, unless otherwise noted.