(a) No officer, agent or employee of any bank shall offer or give to an employee of the State Banking Department or his family, and no such employee nor his family shall solicit or receive anything of value directly or indirectly from a bank, including a gift, favor, or service or a promise of future employment. Expenses associated with social occasions afforded such employee shall not be deemed a thing of value within the meaning of this section or prohibited hereby.
(b) No superintendent, assistant superintendent, deputy superintendent or bank examiner of the State Banking Department shall, either directly or indirectly, be pecuniarily interested in nor borrow from a state bank. Debts now existing and any debt which may be owing at the time of employment to state banks may not be extended or renewed.
(c) Nothing herein shall be construed to prohibit the superintendent or a State Banking Department employee from owning a certificate of deposit in a state bank, however, no preferential rate shall be granted.
Structure Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 3A - Examinations of Banks; Reports of Banks.
Article 1 - Examination of Banks.
Section 5-3A-2 - Acceptance of Examinations and Reports of Federal Bank Regulatory Agency, Etc.
Section 5-3A-3 - Disclosure of Information Obtained by Superintendent, Bank Examiners, Etc.
Section 5-3A-4 - Expenses of Special Examinations.
Section 5-3A-5 - Examination of Agency of Foreign Banks.
Section 5-3A-7 - False Swearing, etc., Before Bank Examiners or Superintendent.
Section 5-3A-10 - False Reports by Bank Examiners.
Section 5-3A-11 - Reports of Examination; Meetings of Banking Board; Confidentiality.
Section 5-3A-12 - Semiannual Reports by Banks - Required; Verification.
Section 5-3A-13 - Semiannual Report by Banks - Special Reports of Banks.
Section 5-3A-14 - Semiannual Report by Banks - Form; Publication; Penalty for Late Report.
Section 5-3A-15 - Semiannual Reports by Banks - Republication.
Section 5-3A-16 - Failure to Pay for Publication of Bank Report by Superintendent.
Section 5-3A-17 - Verification of False Report of Condition of Bank.