<?xml version='1.0' encoding='utf-8'?>
<section article="gfi" article_name="Financial Institutions" number="3-304" title_number="3" title_name="Banking Institutions -- Commercial Banks" subtitle_number="3" subtitle_name="Capital Stock; Surplus Requirements; Stockholders">
  <level label="a">
    <text>Except as necessary to prevent a loss on a loan previously made in good faith, a commercial bank may not:</text>
    <level label="1">
      <text>Make any loan secured by any of its outstanding capital stock; or</text>
    </level>
    <level label="2">
      <text>Buy or hold any of its outstanding capital stock.</text>
    </level>
  </level>
  <level label="b">
    <text>If a commercial bank buys or holds any of its outstanding capital stock, the commercial bank shall sell the stock at public or private sale within:</text>
    <level label="1">
      <text>1 year after the date of acquisition; or</text>
    </level>
    <level label="2">
      <text>Any longer period that the Commissioner authorizes.</text>
    </level>
  </level>
</section>
