Section 750.97 - Financial condition of bank; derogatory statement. - Michigan Statutes

THE MICHIGAN PENAL CODE (EXCERPT)
Act 328 of 1931

750.97 Financial condition of bank; derogatory statement.

Sec. 97.

Derogatory statement regarding financial condition of bank—Any person who shall wilfully and maliciously make, circulate or transmit to another or others any statement, rumor or suggestion, written, printed or by word of mouth, which is directly or by inference derogatory to the financial condition or affects the solvency or financial standing of any incorporated bank, savings bank, banking institution or trust company doing business in this state, or who shall counsel, aid, procure or induce another to start, transmit or circulate any such statement or rumor, shall be guilty of a felony.

History: 1931, Act 328, Eff. Sept. 18, 1931 ;-- CL 1948, 750.97
Former Law: See section 1 of Act 273 of 1909, being CL 1915, § 8043; and CL 1929, § 12060.