Section 172. Restrictions on investments

1.  Every  private banker may,
  subject to the limitations and restrictions contained in  this  article,
  make  such  investments of funds held by him as a private banker in real
  or personal securities, or personal property,  as  are  consistent  with
  safety and prudence of management.
    2.  No  private banker shall appropriate to his own use or lend to any
  person with whom he is  associated  as  a  partner,  or  invest  in  any
  business  conducted  by a partnership of which he is a member, any funds
  held by him as a private banker.
    3. No private banker shall, after  June  thirtieth,  nineteen  hundred
  thirty-eight,  make  with funds held by him as a private banker any loan
  to, or investment in the capital stock  of,  any  corporation  of  which
  fifty per centum of the capital stock is owned or controlled directly or
  indirectly,  or  as a result of any such investment would be so owned or
  controlled by such private  banker,  as  a  private  banker  and  as  an
  individual,  or  if  such  private  banker  is  a  partnership,  by such
  partnership and the individual members thereof, if as a  result  thereof
  the total amount of outstanding loans and investments so made after such
  date will exceed ten per centum of his permanent capital with respect to
  any  one  such corporation, or will exceed twenty-five per centum of his
  permanent capital with respect to all such corporations.