Title 7 Chapter 3

Title 7Financial Institutions Act (Download: PDF | RTF | WordPerfect)
Chapter 3Banks (Download: PDF | RTF | WordPerfect)
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Section 1 Application of chapter.
Section 2 Restrictions on conduct of banking business.
Section 3 "Banking business" defined -- Credit card banks -- Insurance of deposit accounts.
Section 3.2 Securities business permitted -- Activities conducted by subsidiary -- Disclosure statements required.
Section 3.3 Tying of other bank services prohibited.
Section 10 Organization -- Powers, rights, and privileges of banking corporation -- Other business activities.
Section 12 Prohibited investments and loans.
Section 13 Changes in articles of incorporation restricted.
Section 15 Dividends allowed -- Surplus requirements.
Section 16 Losses charged to surplus -- Replenishment of fund -- Dividend restrictions.
Section 18 Real estate acquisition, holding, and conveyance.
Section 19 Limitations on loans and extensions of credit.
Section 20 Bank acquiring, holding, or accepting as collateral its own stock -- Loans to or investment in affiliates.
Section 21 Stock ownership by banks.
Section 22 Certificates and evidences of deposit binding -- Issuance of items intended to circulate as money prohibited.
Section 24 Certification of check.
Section 25 Bad debts.
Section 26 Overdraft as asset.
Section 28 Capital notes or debentures.
Section 30 Board of directors to manage business -- Residency of directors.
Section 31 Oath of bank directors.
Section 32 Meetings of board of directors -- Reports -- Records -- Loans to officers, directors and principal shareholders.
Section 33 Examination of affairs by board of directors -- Purposes -- Frequency -- Report filed in bank records.
Section 34 Contents of examination report of board of directors -- Failure to make and file report as misdemeanor.
Section 35 Examinations in lieu of directors' examination -- Report filed with board minutes.
Section 36 Loans to officers, directors and stockholders.
Section 39 Shareholders' right to examine bank records -- Records as to a particular customer.
Section 40 Board of Bank Advisors.
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