Alabama Statutes
§ 13A-9-50 — Receiving Deposits in Failing Financial Institution
(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
(2)The person making the deposit or other payment is unaware of the precarious situation of the institution.
(b)Receiving deposits in a failing financial institution is a Class A misdemeanor.
Free access — add to your briefcase to read the full text and ask questions with AI
Alabama § 13A-9-50 (Receiving Deposits in Failing Financial Institution) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Acts 1977, No. 607, p. 812, §4150; Acts 1979, No. 79-664, p. 1163, §1.)
Nearby Sections
15
§ 13A-1-1
Short Title§ 13A-1-11
Effective Date§ 13A-1-2
Definitions§ 13A-1-3
General Purposes of Title§ 13A-1-6
General Rule of Construction§ 13A-1-8
Procedural Matters; Civil Liabilities Not Affected by Title; Prosecution When More Than One Offense§ 13A-1-9
Lesser Included Offenses§ 13A-10-1
Definitions§ 13A-10-10
Impersonating Public Servant§ 13A-10-100
Definitions§ 13A-10-101
Perjury in the First Degree§ 13A-10-102
Perjury in the Second Degree