Section 13-3-103 - Preference to Depositors or Creditors Prohibited; Exceptions

13-3-103. Preference to depositors or creditors prohibited; exceptions. A bank shall not give preference to any depositor or creditor by pledging the assets of the bank as security except that the bank may qualify as depository for United States deposits, postal savings funds or other public funds by deposit of the securities required by law and except as otherwise permitted by this act.