§ 11603 - Criminal penalties - Vermont Statutes

§ 11603. Criminal penalties

(a) It shall be a criminal offense, punishable by a fine of not more than $1,000.00 or imprisonment of not more than one year, or both, for any person to violate any existing order of the commissioner, or, after receipt of a removal order, or an order assessing a penalty, to perform any duty or exercise any power of or on behalf of any financial institution until the penalty has been satisfied, or otherwise satisfactorily resolved between the parties, or the removal or penalty order is vacated by the commissioner or by a court of competent jurisdiction.

(b) It shall be a criminal offense, punishable by a fine of not more than $10,000.00 or imprisonment of not more than one year, or both, for any person to willfully violate any existing order of the commissioner, or, after receipt of a removal order, or an order assessing a penalty, to willfully perform any duty or exercise any power of or on behalf of any financial institution until the penalty has been satisfied, or otherwise satisfactorily resolved between the parties, or the removal or penalty order is vacated by the commissioner or by a court of competent jurisdiction.

(c) An executive officer, director or holder of a principal equity interest of a financial institution subject to the laws of this state under this title who, in violation of a standard established by section 14110 of this title, willfully misapplies any of the moneys, funds or credits of such financial institution, or any of the moneys, funds, assets or securities entrusted to the care or custody of such financial institution, or to the care or custody of such executive officer, director or holder of a principal equity interest, shall be fined not more than $100,000.00 or imprisoned not more than five years, or both. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)