Financial Institutions

Community Obligations and Banking Offenses

SECTION 19-9-31

§ 19-9-31. False rumors as to condition of regulated institution.

Every person who willfully or maliciously instigates, makes, circulates, or transmits to another or others any statement, untrue in fact, derogatory to the financial condition or affecting the solvency or financial standing of any regulated institution or other insured-deposit-taking institution duly organized under the laws of the United States doing business in this state, or who counsels, aids, procures, or induces another to start, transmit, or circulate any statement or rumor, shall, upon conviction, be punished by imprisonment for a term not exceeding one year, or by a fine not exceeding five hundred dollars ($500), or by both fine and imprisonment.

History of Section.
(P.L. 1995, ch. 82, § 47.)