§ 104.111. Giveaways.

The term “giveaway” means anything of value, or services performed in whole or in part outside the premises of an association, furnished the recipient without adequate payment; the term does not, however, include (a) provision by an association, for its depositors, of safety deposit facilities at no cost or at a reduced rental, regardless of the location of such facilities; or (b) reimbursement for all or any part of amounts paid by depositors for safety deposit facilities located outside the premises of the association; or (c) provision of any service or thing of value as payment of interest.

HISTORY

1. Change without regulatory effect renumbering former Section138 to Section 104.111 (Register 87, No. 14). For prior history, see Register 82, No. 45.

2. Renumbering of former Section 104.111 to 104.109, and renumbering and amendment of Section 104.114 to Section 104.111 filed 4-13-88; operative 5-13-88 (Register 88, No. 18).

Note

Note: Authority cited: Section 8053, Financial Code. Reference: Sections 6523 and 6653, Financial Code.