(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:

Attorney's Note

Under the Alabama Code, punishments for crimes depend on the classification. In the case of this section:
ClassPrisonFine
Class A misdemeanorup to 1 yearup to $6,000
For details, see Ala. Code § 13A-5-7
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Terms Used In Alabama Code 13A-9-50

(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.