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This entry was published on 2014-09-22
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Misconduct by directors of banking corporations
§ 665. Misconduct by directors of banking corporations. Every director
of a banking corporation who:

1. In case of the fraudulent insolvency of such corporation, shall
have participated in such fraud; or

2. Wilfully does any act as such director which is expressly forbidden
by statute, or wilfully omits to perform any duty imposed upon him as
such director by statute,

Is guilty of a misdemeanor, if no other punishment is prescribed
therefor by law.

The insolvency of a banking corporation is deemed fraudulent unless
its affairs appear upon investigation to have been administered fairly,
legally and with the same care and diligence that agents receiving a
compensation for their services are bound, by law, to observe.