1. No bank or trust company shall issue a certificate of deposit, nor certify a check or draft, nor issue a cashier’s or treasurer’s check, except in exchange for lawful money of the United States or for checks, drafts or bills of exchange which are the actual equivalent of such money.

2. If any president, director, officer, employee or agent of any bank or trust company shall issue a certificate of deposit or certify a check or draft or issue a cashier’s or treasurer’s check, without receiving the money or its equivalent as herein provided or shall sell a certificate of deposit of the bank at a discount in an amount in excess of the legal rate of interest, he shall be guilty of a felony and upon conviction shall be punished by imprisonment in the penitentiary for not less than two years nor more than five years or by imprisonment in the county jail for not exceeding one year, or by a fine not exceeding one thousand dollars, or by both such fine and imprisonment.