It shall be unlawful for any licensee or for any associate of a licensee, directly or indirectly, to borrow money from:
- (a) Any person to which such licensee has provided, or has committed to provide, financing assistance;
- (b) Any director of, officer of, or person who owns a 10 percent or greater equity interest in, any person referred to in subdivision (a); or
- (c) Any close relative of any person referred to in subdivision (b).