It is a criminal offense if a trust company receives any deposit while insolvent, or an officer, director, or employee knows or, in the proper performance of his or her duty should know, of such insolvency and receives or authorizes the receipt of such deposit, and if such trust company or person has knowingly concealed or misstated material facts regarding the insolvency of the trust company from or to the banking board, commissioner, or division of banking.
Source: L. 2003: Entire article added with relocations, p. 1196, § 3, effective July 1.
Editor's note: This section is similar to former § 11-23-119.6 as it existed prior to 2003.