Section 58-1-78 - Unlawful service as officer or directorIt is unlawful for any person to serve as an officer or director of a bank, who:
A. is an officer, director or employee of a directly competitive bank in the same community; B. has been convicted of an offense constituting, in the jurisdiction in which the judgment was rendered, a violation of the banking laws or a felony, or who has been found liable, either in a civil or criminal action, for a breach of trust; or C. is indebted to the bank for more than thirty days upon a judgment that has become final. 1953 Comp., § 48-22-66, enacted by Laws 1963, ch. 305, § 66.