§ 13.42. Loans for carrying shares and capital securities.
To the same extent that an institution is prohibited from extending credit for the purpose of enabling a customer to acquire or hold shares or capital securities of the institution, under the provisions of section 311(e) of the act (7 P. S. § 311(e)), it may not extend credit to acquire or hold stock or capital securities of its affiliates or the corporation which owns or controls the capital stock of the institution.
Authority The provisions of this § 13.42 issued under section 103(a)(viii) of the Banking Code of 1965 (7 P. S. § 103(a)(viii)).
Source The provisions of this § 13.42 adopted August 18, 1970, effective August 19, 1970, 1 Pa.B. 213.
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