17-5811. Accepting payments when capital impaired; felony.
17-5811
17-5811. Accepting payments when capital impaired; felony.
No association shall accept or receive payments upon shares when there
is an impairment of capital, and any officer, director or employee who
shall knowingly violate the provisions of this section or be accessory to
or permit or connive at the receiving or accepting payments on such shares,
shall be guilty of a felony, and upon conviction thereof shall be punished
by imprisonment in the custody of the secretary of
corrections not less than one year nor more
than five years. The word "share" as used in this section shall not
include guarantee shares or stock.
History: L. 1943, ch. 133, § 214; L. 1955, ch. 141, § 11;
L. 1990, ch. 309, § 7; May 24.