TITLE 26

BANKS AND BANKING

CHAPTER 12

CIVIL AND CRIMINAL PENALTIES

26-1218.  Notes for stock subscription illegal. It shall be unlawful for the officers or directors of the banking corporation to accept the note of any subscriber or stockholder in payment or part payment of the par value of the common stock, surplus or undivided profits.

History:

[26-1218, added 1979, ch. 41, sec. 2, p. 124.]