§ 28-1-13-10 — Prohibition against accepting compensation for procuring loan; exception for bona fide employment or compensation agreements

(a) Except as otherwise provided, and
subject to subsection (b), an officer, director, owner, partner, employee,
or attorney of any bank or trust company who stipulates for, receives,
or consents or agrees to receive, any fee, commission, gift, or thing of
value, from any person, for the purpose of procuring or endeavoring to
procure for any person any loan from or the purchase or discount of any
paper, note, draft, check, or bill of exchange by the bank or trust
company, commits a Class A misdemeanor.
(b) The prohibitions set forth in subsection (a) do not apply to a
bank's or a trust company's:
(1) bona fide employment agreements, including benefit or
compensation plans; or
(2) compensation agreements with third party independent
contractors.
Formerly: Acts 1933, c.40, s.204. As amended by Acts 1978,
P.L.2, SEC.2809; P.L.159-2017, SEC.32.