Section 660. Misconduct of officers, directors, trustees, or employees of banking corporations and of private bankers

A   director   of   a  corporation,  organized  under  the  laws  of this state, having banking
  powers, who concurs in  any  vote  or  act  of  the  directors  of  such
  corporation,  or  any of them, by which it is intended to make a loan or
  discount to any director of such corporation, or upon paper  upon  which
  any  such  director  is liable or responsible to an amount exceeding the
  amount allowed  by  statute;  or,  any  director,  trustee,  officer  or
  employee  of  any corporation to which the banking law is applicable who
  makes or maintains, or attempts to make or maintain, a deposit  of  such
  corporation's funds with any other corporation on condition, or with the
  understanding,  express  or implied, that the corporation receiving such
  deposit make a loan or advance, directly or indirectly, to any director,
  trustee, officer or employee of the corporation so making or maintaining
  or attempting to  make  or  maintain  such  deposit;  or  any  director,
  trustee, officer, or employee of any banking corporation organized under
  the laws of another state which is doing business in New York, who makes
  or  maintains,  or  attempts  to  make  or  maintain,  a deposit of such
  corporation's funds with any banking organization or  any  branch  of  a
  foreign banking corporation licensed under article five of this chapter,
  on  condition,  or  with the understanding, express or implied, that the
  banking organization or branch receiving such deposit  make  a  loan  or
  advance,  directly  or  indirectly, to any director, trustee, officer or
  employee of  such  banking  corporation  so  making  or  maintaining  or
  attempting  to  make or maintain such deposit; or any director, trustee,
  officer, or employee of any banking organization or any branch or agency
  of a foreign banking corporation licensed under  article  five  of  this
  chapter  who  receives,  or attempts to receive, a deposit of funds from
  any other banking organization, or  any  national  banking  association,
  federal savings and loan association, federal credit union, or a banking
  corporation  organized  under  the  laws of another state or country, on
  condition, or with the understanding,  express  or  implied,  that  such
  banking  organization  or  foreign  banking  corporation  licensed under
  article five of this chapter receiving, or attempting to  receive,  such
  deposit make a loan or advance, directly or indirectly, to any director,
  trustee,  officer  or  employee  of  the  banking organization, national
  banking association,  federal  savings  and  loan  association,  federal
  credit  union or banking corporation organized under the laws of another
  state or country, so making or attempting to make, such deposit; or, any
  officer or employee of any corporation  to  which  the  banking  law  is
  applicable  who intentionally conceals from the directors or trustees of
  such corporation any discounts or loans made by it between  the  regular
  meetings  of  its board of directors or trustees, or the purchase of any
  securities or the sale of any of its securities during the same  period,
  or  knowingly fails to report to its board of directors or trustees when
  required to do so by law, all discounts or loans  made  by  it  and  all
  securities  purchased  or sold by it between the regular meetings of its
  board of directors or trustees; or any director, officer or employee  of
  a  bank or trust company, or a private banker or his employee, who makes
  any agreement express or implied, before or at the  time  of  issuing  a
  certificate  of  deposit,  by  which  its  holder  may demand or receive
  payment thereof in advance of its maturity, is guilty of a  misdemeanor.
  Nothing  in  this section shall render any loan made by the directors of
  any such corporation, in violation thereof, invalid.