(a) A person commits an offense if the person:
(1) knowingly makes, utters, circulates, or transmits to another person a statement that is untrue and derogatory to the financial condition of an association; or
(2) with intent to injure an association counsels, aids, procures, or induces another person to originate, make, utter, transmit, or circulate a statement or rumor that is untrue and derogatory to the financial condition of the association.
(b) An offense under Subsection (a) is a state jail felony.

Attorney's Note

Under the Texas Codes, punishments for crimes depend on the classification. In the case of this section:
ClassPrisonFine
State jail felonybetween 180 days and 2 yearsup to $10,000
For details, see Texas Penal Code § 12.35

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Terms Used In Texas Finance Code 89.101

  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005