168 - Restrictions on acceptance of deposits and payment of interest.

§ 168. Restrictions on acceptance of deposits and payment of interest.  No private banker shall:    (1)  Accept  any  amount  for  deposit if after the acceptance of such  amount the average amount of the deposits received from  all  depositors  during  the  twelve  month  period  ending  upon the day upon which such  deposit is tendered, or during such period, if less than twelve  months,  that  such  private  banker  has been engaged in business, would be less  than one thousand dollars. The term "deposit" as used in this  paragraph  shall  mean  coin  or  currency  of  the United States or of any foreign  country, and checks, drafts and other funds  credited  by  such  private  banker to the account of any one depositor on any one day, but shall not  include  dividend  checks,  coupons, or other similar items collected by  such private banker for the account of a depositor, or remittances  made  by  a  depositor  for  the purpose of repaying, in whole or in part, any  existing indebtedness due to such private banker, or  interest  credited  by  such  private  banker  to  the  account  of  a depositor, or amounts  delivered for transmission; or    (2) Pay or credit interest, or  pay,  credit  or  give  any  bonus  or  gratuity  or  thing  of value, on any deposit balance, if the average of  the daily credit balances in such deposit account during the period  for  which  interest  is  paid  or  credited is less than seven thousand five  hundred dollars.