Section 8Sec./Art. 8

Section 9, subsection (e) of the same Act is hereby amended to read as follows:

"(e) Personnel of the corporation are hereby prohibited from:

"(1) being an officer, director, consultant, employee or stockholder, directly or indirectly, of any bank or banking institution except as otherwise provided in this Act.

"(2) receiving any gift or thing of value from any officer, director or employee thereof;

"(3) revealing in any manner, except under order of the court or authorized herein in such condition or business of any such institution. The prohibition shall not be held to apply to the giving of information to the Board of Directors or to any person authorized by either of them in writing to receive such information.

"Notwithstanding the provisions of this Section and Section 2, members of the Board of Directors and other personnel of the Corporation may become directors and officers of any bank and banking institution and of any entity related to such institution in connection with financial assistance extended by the Corporation to such institution and when in the opinion of the Board it is appropriate to make such a designation to protect the interest of the Corporation.

"Borrowing from any bank or banking institution by examiners and other personnel of the examination departments of the corporation shall be prohibited only with respect to the particular institution in which they are assigned, or are conducting an examination. Personnel of other departments, offices or units of the Corporation shall likewise be prohibited from borrowing from any bank or banking institution during the period of time that a transaction of such institution with the corporation is being evaluated, processed or acted upon by such personnel:Provided, however,That the Board may, at its discretion, indicate the position levels or functional groups to which the prohibition is applicable.

"Borrowing by all full-time personnel of the corporation from any bank or banking institution shall be secured and disclosed to the Board, and shall be subject to such further rules and regulations as the Board may prescribe."