A person commits a class 6 felony if, as an officer, manager, or other person participating in the direction of a financial institution, he knowingly receives or permits the receipt of a deposit or investment, knowing that the institution is insolvent. A financial institution is insolvent within the meaning of this section when from any cause it is unable to pay its obligations in the ordinary or usual course of business or its liabilities exceed its assets.
Source: L. 71: R&RE, p. 441, § 1. C.R.S. 1963: § 40-5-210. L. 89: Entire section amended, p. 835, § 58, effective July 1.