Certain persons prohibited from serving as officer or

director. It shall be unlawful for any person to serve as an officer or director of an association who: 1. Has been convicted of an offense constituting, in the jurisdiction in which the conviction was rendered, a violation of the banking, savings institution or credit union laws or other felony involving dishonesty or a breach of trust; and 2. Is indebted to the bank for more than thirty (30) days based on a judgment that has become final.