N.Y. Education Law § 623: Prohibition of receipt of gifts by covered institution employees

§ 623. Prohibition of receipt of gifts by covered institution

employees. 1. A covered institution shall require that no covered

institution employee on his or her own behalf or on behalf of another,

directly or indirectly, solicits, accepts or receives any gift from or

on behalf of a lending institution. Nothing in this section shall be

construed as prohibiting a covered institution employee from conducting

business with a lending institution, provided that such business is

unrelated in any manner whatsoever to a covered institution.

2. A covered institution employee, on his or her own behalf or on

behalf of another, shall not directly or indirectly solicit, accept or

receive any gift from or on behalf of a lending institution. Nothing in

this section shall be construed as prohibiting a covered institution

employee from conducting business with any lending institution, provided

that such business is unrelated in any manner whatsoever with the

covered institution.

3. Covered institution employees shall report to the department any

instance of a lending institution attempting to give a gift to such

covered institution employees.