Acceptance of deposit by insolvent financial institution.

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  • (1) as an officer, manager, or other person participating in the direction of a financial institution, as defined in Section 7-1-103, he receives or permits receipt of a deposit or other investment knowing that the institution is or is about to become unable, from any cause, to pay its obligations in the ordinary course of business; and
  • (2) he knows that the person making the payment to the institution is unaware of such present or prospective inability.




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