Article 76

A banking firm shall not, without the approval of the Agency and except upon the terms and conditions the Agency shall determine:

(a) Grant loans or credit facilities, or give a guarantee or securities, or assume any other financial obligation in favour of any natural or juristic person, in amounts exceeding in the aggregate such percentage of the banking firm's own funds as shall be determined by the Agency.
(b) Grant loans for the purchase or acquisition of real property or (or any other investment in real estate in excess of a percentage of the institution's deposits and other similar liabilities to be determined by the Agency, or allow the aggregate value of accrued loans for such purposes to exceed such limit.
(c) Grant loans upon the security of its own shares of capital stock.
(d) Allow the aggregate value of accrued unsecured loans to exceed the following limits, or grant unsecured loans in excess of such limits:
1 — The maximum to be set by the general meeting for any member of the Board of Directors, whether such loans are granted to the directors jointly or individually.
2 — Ten percent of the total of its irreducible Capital and the Reserve Account, for any other firm in which one of its directors has an interest as a director, partner or part-owner or manager of such a firm, or in any other form.
(e) Allow the value of accrued unsecured loans granted to any of its officials or employees to exceed in the aggregate the annual salary of such official or employee, or grant unsecured loans to such an official or employee in excess of such limit.
(f) Engage in trade, except so far may be temporarily necessary for the conduct of its business or to recover debts due to it.
(g) Purchase, acquire or lease real property, except so far as is necessary for the conduct of its business, taking into consideration future needs, and for housing its officials and employees, provided that:
1 — As regards real property acquired or leased by the banking firm before the coming into force of this Law and for a purpose not included in those mentioned above, the firm shall be granted a grace period of three years to conform to the provisions of this paragraph.
2 — A banking firm may accept real or other property or assets as a security for its loans, and in case of non-payment, the banking firm may acquire such assets provided that it disposes of them within the period to be fixed by the Agency. Every banking firm which may have, prior to the coming into force of the provisions of this Law, carried out any operations that are inconsistent with the provisions of this Article, must report such operations to the Agency and liquidate all such operations within the period to be fixed by the Agency.