13-2207. Receiving deposits in an insolvent
financial institution; classification
A. A person commits receiving deposits in an insolvent financial institution if, as
an officer, manager or other person participating in the direction of a financial
institution, such person receives or permits the receipt of a deposit, premium payment or
investment in the institution in excess of the amount insured by the federal deposit
insurance corporation, the federal savings and loan insurance corporation or the national
credit union administration knowing that the institution is insolvent.
B. It is a defense to prosecution under this section that the person making the
deposit, premium payment or investment was fully informed of the financial condition of
the institution.
C. Receiving deposits in an insolvent financial institution is a class 5 felony.
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