Tuesday, December 11, 2007

2C:21-14. Receiving deposits in a failing financial institution

2C:21-14. Receiving deposits in a failing financial institution

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

a. Due to financial difficulties the institution is about to suspend operations or go into receivership or reorganization; and

b. The person making the deposit or other payment is unaware of the precarious situation of the institution.

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Attorney at Law
2053 Woodbridge Ave.
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732-572-0500 (Phone)
732-572-0030 (Fax)