76-6-512. Acceptance of deposit by insolvent financial institution.
| (1) |
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Terms Used In Utah Code 76-6-512- Actor: means a person whose criminal responsibility is in issue in a criminal action. See Utah Code 76-1-101.5
- Person: means an individual, public or private corporation, government, partnership, or unincorporated association. See Utah Code 76-1-101.5
- Property: includes both real and personal property. See Utah Code 68-3-12.5
| (a) |
As used in this section, “financial institution” means the same as that term is defined in Section 7-1-103. |
| (b) |
Terms defined in Section 76-1-101.5 apply to this section. |
|
| (2) |
An actor commits acceptance of a deposit by an insolvent financial institution if:
| (a) |
as an officer, manager, or other person participating in the direction of a financial institution, as defined in Section 7-1-103, the actor receives or permits receipt of a deposit or other investment knowing that the institution is or is about to become unable, from any cause, to pay its obligations in the ordinary course of business; and |
| (b) |
the actor knows that the person making the payment to the institution is unaware of such present or prospective inability. |
|
| (3) |
A violation of Subsection (2) is a third degree felony. |
| (4) |
This section may not be construed to impose criminal or civil liability on any law enforcement officer acting within the scope of a criminal investigation. |
Amended by Chapter 111, 2023 General Session
