Pennsylvania § 4112 Receiving deposits in a failing financial institution

Pennsylvania Statutes

§ 4112 — Receiving deposits in a failing financial institution

Pennsylvania·Title 18 CRIMES AND OFFENSES·Part PART II·Ch. 41 FORGERY AND FRAUDULENT PRACTICES

An officer, manager or other person directing or participating in the direction of a financial institution commits a misdemeanor of the second degree if he receives or permits the receipt of a deposit, premium payment or other investment in the institution knowing 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.

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An officer, manager or other person directing or participating in the direction of a financial institution commits a misdemeanor of the second degree if he receives or permits the receipt of a deposit, premium payment or other investment in the institution knowing 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.

Pennsylvania § 4112 (Receiving deposits in a failing financial institution) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.