524.1608 - PENALTY FOR ACCEPTING DEPOSITS WHILE INSOLVENT.
524.1608 PENALTY FOR ACCEPTING DEPOSITS WHILE INSOLVENT. If a state bank shall accept any deposit or renew any certificate of deposit in violation of subsection 4 of section 524.805, any officer or employee knowing of such insolvency who willfully receives, accepts or renews or is accessory to or otherwise knowingly permits such acceptance shall be guilty of a fraudulent practice and shall, in either event be forever disqualified from acting as an officer or employee of any state bank.
Section History: Early Form [C97, § 1885; C24, 27, 31, 35, 39, § 9280; C46, 50, 54, 58, 62, 66, § 528.82; C71, 73, 75, 77, 79, 81, § 524.1608]