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Arkansas Code Title 5. Criminal Offenses § 5-37-206. Receiving deposits in failing financial institution

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) A person commits the offense of receiving a deposit in a failing financial institution if, as an officer, manager, or other person participating in the direction of a financial institution, the person knowingly receives or permits the receipt of a deposit or other investment, knowing that the financial institution is insolvent, without disclosing the true financial condition of the financial institution.

(b) Receiving a deposit in a failing financial institution is a Class A misdemeanor.

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Cite this article: FindLaw.com - Arkansas Code Title 5. Criminal Offenses § 5-37-206. Receiving deposits in failing financial institution - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-5-criminal-offenses/ar-code-sect-5-37-206/

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