6.2-945 - (Effective October 1, 2010) Receiving deposit knowing bank to be insolvent; penalty. - Virginia Statutes

§ 6.2-945. (Effective October 1, 2010) Receiving deposit knowing bank to beinsolvent; penalty.

A. Any officer, director. or employee of any bank, or broker, who takes andreceives, or permits to be received, a deposit from any person with theactual knowledge that the bank or broker is at the time insolvent, is guiltyof embezzlement. Notwithstanding the provisions of § 18.2-111, an individualconvicted of embezzlement pursuant to this section shall be fined double theamount so received and be subject to a term of imprisonment of not less thanone nor more than three years, in the discretion of the jury, for eachoffense.

B. On the trial of any indictment under this section, it shall be the duty ofthe bank or broker, and its agent or officers, to produce in court, on demandof the attorney for the Commonwealth, all books and papers of the bank orbroker, to be read as evidence on the trial of such indictment. Indetermining the question of the solvency of any bank, the capital stockthereof shall not be considered as a liability due by it.

(Code 1950, § 6-3; 1966, c. 584, § 6.1-124; 2010, c. 794.)