Code of Virginia - Title 6.1 Banking And Finance - Section 6.1-124 Receiving deposit knowing bank or broker to be insolvent

§ 6.1-124. Receiving deposit knowing bank or broker to be insolvent

Any officer or director of any bank and any private banker or broker or any employee of any such bank, banker or broker, who shall take and receive, or permit to be received, a deposit from any person with the actual knowledge that the bank, banker or broker is at the time insolvent, shall be guilty of embezzlement, and shall be punished by a fine double the amount so received, and be confined in a state correctional facility not less than one nor more than three years, in the discretion of the jury, for each offense. On the trial of any indictment under this section it shall be the duty of any such bank, banker or broker, its agent or officers, to produce in court on demand of the attorney for the Commonwealth, all books and papers of such bank, banker or broker, to be read as evidence on the trial of such indictment; but in determining the question of the solvency of any bank, the capital stock thereof shall not be considered as a liability due by it.

(Code 1950, § 6-3; 1966, c. 584.)

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Last modified: April 2, 2009