§ 76-6-512. Acceptance of deposit by insolvent financial institution.

Latest version.

A person is guilty of a felony of the third degree if:

(1)

as an officer, manager, or other person participating in the direction of a financial institution, as defined in Section 7-1-103, he receives or permits receipt of a deposit or other investment knowing that the institution is or is about to become unable, from any cause, to pay its obligations in the ordinary course of business; and

(2)	he knows that the person making the payment to the institution is unaware of such present or prospective inability.

Amended by Chapter 10, 1997 General Session

                    
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