Receiving Deposits in a Financial Institution

Receiving Deposits in a Financial Institution. (a) An officer, manager or other person directing or participating in the direction of a financial institution commits a misdemeanor offense if that person receives or permits the receipt of a deposit, premium payment or other investment in the institution knowing that: (1) Due to financial difficulties the institution is about to suspend operations or go into receivership or reorganization; and (2) The person making the deposit or other payment is unaware of the precarious situation of the institution. (b) A person convicted under this section may be punished by not more than one year imprisonment or a fine of not more than $20,000 or both. Source: PL 3-71, § 1 (§ 446).