Montana Code 32-3-1004. Penalty for fraud by director, executive officer, agent, or employee
32-3-1004. Penalty for fraud by director, executive officer, agent, or employee. (1) The department of administration may impose the penalty described in subsection (2) if a director, an executive officer, an agent, or an employee of a credit union:
Terms Used In Montana Code 32-3-1004
- Fraud: Intentional deception resulting in injury to another.
- Knowingly: means only a knowledge that the facts exist which bring the act or omission within the provisions of this code. See Montana Code 1-1-204
- Property: means real and personal property. See Montana Code 1-1-205
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
- Willfully: when applied to the intent with which an act is done or omitted, means a purpose or willingness to commit the act or make the omission referred to. See Montana Code 1-1-204
(a)(i) knowingly receives or takes possession of any credit union property, except in payment for a just demand; and
(ii)with the intent to defraud fails to make or to cause or direct to be made a full and true entry of the receipt or possession in its books and accounts or concurs in failing to make a material entry in its books and account;
(b)knowingly concurs in making or publishing a written report, exhibit, or statement of its affairs or pecuniary condition containing any material statement that is false; or
(c)having the custody or control of the credit union’s books, willfully refuses or neglects to make a proper entry in the credit union’s books as required by law, to exhibit the books, or to allow the books to be inspected and allow extracts to be taken from the books by the department.
(2)An individual who is found guilty or pleads guilty to a charge under subsection (1) may be imprisoned in a state correctional facility for a term not exceeding 5 years or be fined by the department an amount not to exceed $10,000, or both.