§ 35-A:7 — Prohibited Acts

Nothing contained in this chapter shall be construed to authorize or to empower the bank:
I. To make loans of money to any person, firm or corporation other than a governmental unit, or to purchase securities issued by any person, firm or corporation other than a governmental unit or for investment except as provided in this chapter, or
II. To emit bills of credit, or to accept deposits of money for time or demand deposit, or to administer trusts, or to engage in any form or manner in, or in the conduct of, any private or commercial banking business, or to act as a savings bank or savings and loan association, or
III. To be or to constitute any bank or trust company within the jurisdiction or under the control of the bank commissioner or the Comptroller of the Currency of the United States of America or the department of the treasury thereof, or
IV. To be or to constitute any bank, banker or dealer in securities within the meaning of or subject to the provisions of any securities, securities exchange, or securities dealers law, of the United States of America or of this state or of any other state.

Legislative History

1977, 491:1, eff. July 1, 1977.