Ala. Code § 13A-9-50 (1975) Receiving Deposits In Failing Financial Institution

LibraryAlabama Statutes
Edition2023
CurrencyCurrent with legislation from the 2023 Regular and Special Sessions.
Year2023
CitationAla. Code § 13A-9-50 (1975)

(a) A person commits the crime of receiving deposits in a failing financial institution, if, as an officer, manager or other person participating in the direction of a financial institution, he knowingly receives or permits the receipt of funds, a general deposit or other investment, knowing or having reason to believe that:

(1) Due to financial difficulties the institution is about to suspend operations or go into receivership or reorganization, and

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