Interests in trust institutions prohibited

(a) Neither the Bank Commissioner nor any employee or officer of the State Bank Department who participates in the examination of a trust institution, or who may be called upon to make an official decision or determination affecting the operation of a trust institution, shall be an officer, director, attorney, owner, or holder of stock in any state trust company, or any company which owns or controls a state trust company, or receive, directly or indirectly, any payment or gratuity from any such organizations. A person subject to this section may not borrow money from a state trust company. (b) A person subject to this section may: (1) Be a depositor in any trust institution that the department regulates; and (2) Purchase trust or fiduciary services, other than credit services, under rates and terms generally available to other customers of the trust institution. Acts 1997, No. 940, § 96. (a) Neither the Bank Commissioner nor any employee or officer of the State Bank Department who participates in the examination of a trust institution, or who may be called upon to make an official decision or determination affecting the operation of a trust institution, shall be an officer, director, attorney, owner, or holder of stock in any state trust company, or any company which owns or controls a state trust company, or receive, directly or indirectly, any payment or gratuity from any such organizations. A person subject to this section may not borrow money from a state trust company. (b) A person subject to this section may: (1) Be a depositor in any trust institution that the department regulates; and (2) Purchase trust or fiduciary services, other than credit services, under rates and terms generally available to other customers of the trust institution. (1) Be a depositor in any trust institution that the department regulates; and (2) Purchase trust or fiduciary services, other than credit services, under rates and terms generally available to other customers of the trust institution. Acts 1997, No. 940, § 96.