13-2207. Receiving deposits in an insolvent financial institution; classification
A. A person commits receiving deposits in an insolvent financial institution if, as an officer, manager or other person participating in the direction of a financial institution, such person receives or permits the receipt of a deposit, premium payment or investment in the institution in excess of the amount insured by the federal deposit insurance corporation, the federal savings and loan insurance corporation or the national credit union administration knowing that the institution is insolvent.
B. It is a defense to prosecution under this section that the person making the deposit, premium payment or investment was fully informed of the financial condition of the institution.
C. Receiving deposits in an insolvent financial institution is a class 5 felony.
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