§ 623. Prohibition of receipt of gifts by covered institution
employees. 1. A covered institution shall require that no covered
institution employee on his or her own behalf or on behalf of another,
directly or indirectly, solicits, accepts or receives any gift from or
on behalf of a lending institution. Nothing in this section shall be
construed as prohibiting a covered institution employee from conducting
business with a lending institution, provided that such business is
unrelated in any manner whatsoever to a covered institution.

2. A covered institution employee, on his or her own behalf or on
behalf of another, shall not directly or indirectly solicit, accept or
receive any gift from or on behalf of a lending institution. Nothing in
this section shall be construed as prohibiting a covered institution
employee from conducting business with any lending institution, provided
that such business is unrelated in any manner whatsoever with the
covered institution.

3. Covered institution employees shall report to the department any
instance of a lending institution attempting to give a gift to such
covered institution employees.