A — Every director, manager, official responsible for the direction or management of a banking firm, who has, in any form or in any direct or indirect way, an interest in any loan granted by such banking firm, shall submit as soon as possible a written statement to the Board of Directors or to any other body responsible for the direction or management of such firm setting for the nature of such interest. This obligation shall not apply to any such persons if his interest is merely limited to his being a creditor of or a part owner of an establishment desirous of benefiting from a loan it obtains from the banking firm, where such interest in both its form referred to cannot by any means be considered important.
B — In the application of paragraph (A), any statement made by a director, manager or other responsible official of a banking firm with regard to his interest in any loan which such firm may grant after the date of such a statement, shall be considered to be an adequate statement if:
1. He specifies in the statement the nature and extent of his interest.
2. His interest when the loan is granted does not differ in nature, nor exceed in extent, the nature and extent set forth in his statement.