§ 8-402. Fraudulent misrepresentation by corporate officer or agent.
(a) Prohibited.- With intent to defraud, an officer or agent of a corporation may not sign, or in any manner assent to, a statement to or a publication for the public or the shareholders that contains false representations of the corporation's assets, liabilities, or affairs, to:
(1) enhance or depress the market value of the corporation's shares or obligations; or
(2) commit fraud in another manner.
(b) Penalty.- A person who violates this section is guilty of a misdemeanor and on conviction is subject to imprisonment not less than 6 months and not exceeding 3 years or a fine not less than $1,000 and not exceeding $10,000 or both.
(c) Statute of limitations and in banc review.- A person who violates this section is subject to § 5-106(b) of the Courts Article.
§ 8-402. Fraudulent misrepresentation by corporate officer or agent.
(a) Prohibited.- With intent to defraud, an officer or agent of a corporation may not sign, or in any manner assent to, a statement to or a publication for the public or the shareholders that contains false representations of the corporation's assets, liabilities, or affairs, to:
(1) enhance or depress the market value of the corporation's shares or obligations; or
(2) commit fraud in another manner.
(b) Penalty.- A person who violates this section is guilty of a misdemeanor and on conviction is subject to imprisonment not less than 6 months and not exceeding 3 years or a fine not less than $1,000 and not exceeding $10,000 or both.
(c) Statute of limitations and in banc review.- A person who violates this section is subject to § 5-106(b) of the Courts Article.
§ 8-402. Fraudulent misrepresentation by corporate officer or agent.
(a) Prohibited.- With intent to defraud, an officer or agent of a corporation may not sign, or in any manner assent to, a statement to or a publication for the public or the shareholders that contains false representations of the corporation's assets, liabilities, or affairs, to:
(1) enhance or depress the market value of the corporation's shares or obligations; or
(2) commit fraud in another manner.
(b) Penalty.- A person who violates this section is guilty of a misdemeanor and on conviction is subject to imprisonment not less than 6 months and not exceeding 3 years or a fine not less than $1,000 and not exceeding $10,000 or both.
(c) Statute of limitations and in banc review.- A person who violates this section is subject to § 5-106(b) of the Courts Article.
