76-6-512. Acceptance of deposit by insolvent financial institution.
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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Last revised: Wednesday, October 08, 2008