Sec. 100.
Receiving deposits, etc., when bank is insolvent—The directors and officers of any commercial and/or savings bank, industrial bank or trust company who shall fraudulently and with intent to cheat and defraud any person, receive any deposit, money, or property or issue any certificate of investment and receive payment therefor, knowing, or having good reason to believe that such bank or company is insolvent, shall be guilty of a felony, punishable by imprisonment in the state prison not more than 5 years or by fine of not more than 2,500 dollars.
History: 1931, Act 328, Eff. Sept. 18, 1931 ;-- CL 1948, 750.100 Former Law: See section 14 of Act 296 of 1917, being CL 1929, § 11986; and section 36 of Act 66 of 1929, being CL 1929, § 11933.
Structure Michigan Compiled Laws
Chapter 750 - Michigan Penal Code
Act 328 of 1931 - The Michigan Penal Code (750.1 - 750.568)
328-1931-XIII - Chapter XIII Bank, Deposit and Trust Companies (750.93...750.101)
Section 750.93 - Bank Bonds in State Treasury, Removing or Destroying.
Section 750.94 - Bank Bills or Notes; Issuing, Non-Compliance With Requirements.
Section 750.95 - Spurious Bank Notes; Issuing or Circulating.
Section 750.96 - Bank Property; Fraudulent Disposal.
Section 750.97 - Repealed. 2015, Act 210, Eff. Mar. 14, 2016.
Section 750.98 - Private Banks.
Section 750.99 - Certifying Checks; Insufficient Funds.