It is a Class B misdemeanor for any officer, director, agent, or employee of an association to, directly or indirectly:

(1) Knowingly, or with intent to defraud, receive or possess any of its property otherwise than in payment of a just demand, and omit to make, or cause the omission of, a full and true entry thereof in the books and accounts of the association;

Attorney's Note

Under the Tennessee Code, punishments for crimes depend on the classification. In the case of this section:
ClassPrisonFine
class B misdemeanorup to 6 monthsup to $500
For details, see Tenn. Code § 40-35-111

Terms Used In Tennessee Code 45-3-1310

(2) Knowingly concur in the omission of any material entry in its books or accounts; or
(3) Knowingly cause to be published a false representation that the association is in a better financial condition than it actually is.
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