New Jersey Statutes 2C:21-14. Receiving deposits in a failing financial institution
Current as of: 2024 | Check for updates
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Attorney's Note
Under the New Jersey Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| crime of the fourth degree | up to 18 months | up to $10,000 |
Terms Used In New Jersey Statutes 2C:21-14
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
An officer, manager or other person directing or participating in the direction of a financial institution commits a crime of the fourth degree if he receives or permits the receipt of a deposit, premium payment or other investment in the institution knowing that:
a. Due to financial difficulties the institution is about to suspend operations or go into receivership or reorganization; and
b. The person making the deposit or other payment is unaware of the precarious situation of the institution.
L.1978, c. 95, s. 2C:21-14, eff. Sept. 1, 1979.