(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.
Structure Code of Alabama
Chapter 9 - Forgery and Fraudulent Practices.
Section 13A-9-40 - Definitions.
Section 13A-9-41 - Deceptive Business Practices.
Section 13A-9-42 - False Advertising.
Section 13A-9-43 - Bait Advertising.
Section 13A-9-45 - Falsifying Business Records.
Section 13A-9-46 - Defrauding Secured Creditors.
Section 13A-9-47 - Defrauding Judgment Creditors.
Section 13A-9-48 - Fraud in Insolvency.
Section 13A-9-49 - Issuing False Financial Statement.
Section 13A-9-50 - Receiving Deposits in Failing Financial Institution.