§ 660. Misconduct of officers, directors, trustees, or employees of
banking corporations and of private bankers. A director of a
corporation, organized under the laws of this state, having banking
powers, who concurs in any vote or act of the directors of such
corporation, or any of them, by which it is intended to make a loan or
discount to any director of such corporation, or upon paper upon which
any such director is liable or responsible to an amount exceeding the
amount allowed by statute; or, any director, trustee, officer or
employee of any corporation to which the banking law is applicable who
makes or maintains, or attempts to make or maintain, a deposit of such
corporation's funds with any other corporation on condition, or with the
understanding, express or implied, that the corporation receiving such
deposit make a loan or advance, directly or indirectly, to any director,
trustee, officer or employee of the corporation so making or maintaining
or attempting to make or maintain such deposit; or any director,
trustee, officer, or employee of any banking corporation organized under
the laws of another state which is doing business in New York, who makes
or maintains, or attempts to make or maintain, a deposit of such
corporation's funds with any banking organization or any branch of a
foreign banking corporation licensed under article five of this chapter,
on condition, or with the understanding, express or implied, that the
banking organization or branch receiving such deposit make a loan or
advance, directly or indirectly, to any director, trustee, officer or
employee of such banking corporation so making or maintaining or
attempting to make or maintain such deposit; or any director, trustee,
officer, or employee of any banking organization or any branch or agency
of a foreign banking corporation licensed under article five of this
chapter who receives, or attempts to receive, a deposit of funds from
any other banking organization, or any national banking association,
federal savings and loan association, federal credit union, or a banking
corporation organized under the laws of another state or country, on
condition, or with the understanding, express or implied, that such
banking organization or foreign banking corporation licensed under
article five of this chapter receiving, or attempting to receive, such
deposit make a loan or advance, directly or indirectly, to any director,
trustee, officer or employee of the banking organization, national
banking association, federal savings and loan association, federal
credit union or banking corporation organized under the laws of another
state or country, so making or attempting to make, such deposit; or, any
officer or employee of any corporation to which the banking law is
applicable who intentionally conceals from the directors or trustees of
such corporation any discounts or loans made by it between the regular
meetings of its board of directors or trustees, or the purchase of any
securities or the sale of any of its securities during the same period,
or knowingly fails to report to its board of directors or trustees when
required to do so by law, all discounts or loans made by it and all
securities purchased or sold by it between the regular meetings of its
board of directors or trustees; or any director, officer or employee of
a bank or trust company, or a private banker or his employee, who makes
any agreement express or implied, before or at the time of issuing a
certificate of deposit, by which its holder may demand or receive
payment thereof in advance of its maturity, is guilty of a misdemeanor.
Nothing in this section shall render any loan made by the directors of
any such corporation, in violation thereof, invalid.