412:5A-211 Prohibited corporate activities. No international banking corporation shall directly or indirectly:

(1) Engage in commerce or trade in commodities, except as specifically provided in this part, or control or fix, or attempt to control or fix, the price of any commodities; or

(2) Make any discount to any person for the purpose of enabling the person to pay for or hold shares of its stock either subscribed for or purchased by the person.

Any violation of this section shall subject the international banking corporation to the revocation of its approval, and to such penalties and administrative fines prescribed under article 2. [L 1993, c 350, pt of 1]


Previous Vol08_Ch0401-0429 Next