§ 130. Restrictions on officers, directors and employees. 1. No\nofficer, director, clerk or other employee of any bank or trust company,\nand no person in any way interested or concerned in the management of\nits affairs, shall, acting on his own behalf or for any partnership or\nunincorporated association of which he is a member or for any\ncorporation, of which he owns or controls a majority of the capital\nstock, discount, or directly or indirectly make any loan upon, any note\nor other evidence of debt which he shall know to have been offered for\ndiscount to such bank or trust company, and to have been refused. Every\nperson violating the provisions of this subdivision shall, for each\noffense, forfeit to the people of the state twice the amount of the loan\nwhich he shall have made.\n 2. No officer, director, clerk or other employee of any bank or trust\ncompany shall, directly or indirectly, purchase or be interested in the\npurchase of any promissory note or other evidence of debt issued by it\non terms more favorable than those available to the general public,\nprovided, however, that every director, and every officer, clerk or\nother employee who is a stockholder of such bank or trust company, may\npurchase promissory notes or other evidences of debt issued by it in the\nsame ratio as to amount and on the same terms as any other stockholder.\n 3. (a) No executive officer of a bank or trust company may be an\nexecutive officer, director or trustee of another bank or trust company,\nsavings bank, savings and loan association, national bank, federal\nsavings bank or federal savings association, the principal office of\nwhich institution is located in this state, bank holding company or\nforeign banking corporation maintaining a branch in this state, unless\npermission therefor has been granted by the superintendent of financial\nservices pursuant to the provisions of paragraph (b) of this\nsubdivision, except that an executive officer of a bank or trust company\nwhich is a subsidiary of a bank holding company may be (i) an executive\nofficer and (ii) a director of the bank holding company and of one or\nmore banking institutions which are subsidiaries of such bank holding\ncompany.\n (b) The superintendent of financial services shall have the power to\ndetermine by regulation who shall be considered, under the provisions of\nthis subdivision, to be an executive officer, and by a general or\nspecific regulation to grant permission to an executive officer of a\nbank or trust company to be an executive officer, director or trustee or\nboth an executive officer and director or a trustee of another bank or\ntrust company, savings bank, or savings and loan association, national\nbank, federal savings bank or federal savings association, the principal\noffice of which is located in this state, bank holding company, or\nforeign banking corporation maintaining a branch in this state. Such\npermission may be granted only if in the judgment of the superintendent\nof financial services such service by the executive officer will be\nconsistent with the policy of the state of New York as declared in\nsection ten of this chapter. The superintendent of financial services\nshall have the power to revoke such permission whenever he or she finds,\nafter reasonable notice and an opportunity to be heard, that the public\ninterest requires such revocation.\n (c) For the purposes of this subdivision, the terms "subsidiary",\n"banking institution" and "bank holding company" shall each be given the\nsame meaning as is contained in their respective definition in section\none hundred forty-one of this chapter, except that the definition of the\nterm "banking institution" is modified to include a national bank,\nfederal savings bank or federal savings association, the principal\noffice of which institution is in this state, and a foreign banking\ncorporation maintaining a branch in this state.\n (d) All other restrictions and limitations imp
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