Financial Institutions

Regulatory Oversight

SECTION 19-4-13

§ 19-4-13. Continuance of business after suspension prohibited.

After suspension of the right of a regulated institution to do business, the regulated institution affected shall cease to have any right to continue its business, except for the purpose of winding up the affairs of the regulated institution. Any officers, directors, or agents of the regulated institution thereafter selling shares of the regulated institution, or soliciting business for the regulated institution, shall be guilty of a misdemeanor, and upon conviction thereof shall be fined not more than one thousand dollars ($1,000) for each offense.

History of Section.
(P.L. 1995, ch. 82, § 42.)