§723. Violations; penalties; institution of criminal proceedings

A. Any person who willfully violates any provision of this Part shall be guilty of a felony and upon conviction shall be punished by a fine of not more than ten thousand dollars or by imprisonment at hard labor for not more than five years, or by both fine and imprisonment. In addition to these penalties, the court may order the person convicted of the violation to pay restitution to any victim of the violation. Each violation of this Part shall constitute a separate offense.

B. Any person who willfully violates any rule or order of the commissioner, authorized under this Part, shall be guilty of a misdemeanor and upon conviction shall be punished by a fine of not more than five hundred dollars, or by imprisonment for not more than six months, or by both such fine and imprisonment, but no person may be imprisoned for violation of any rule or order of which that person did not have actual knowledge. In addition to these penalties, the court may order the person convicted of the violation to pay restitution to any victim of the violation. Each violation of this Part shall constitute a separate offense.

C. No dealer or salesman shall make any statement or representation not authorized by the issuer, or any statement or representation at variance with or not reasonably predicated upon the statements and documents filed by the issuer in the office of the commissioner.

D. No person shall sign any statement, list, inventory, balance sheet, or other paper or document required by any provision of this Part to be verified or sworn to, knowing any representation therein contained to be false, misleading, or untrue, and the depositing of any such statement or document in the office of the commissioner shall be deemed prima facie evidence of knowledge of the falsity thereof or of any representation therein contained and of the willful signing of such statement or document.

E. The commissioner may refer such evidence as is available concerning violations of this Part or of any rule or order hereunder to the appropriate prosecuting attorney, who may, with or without such a reference, institute the appropriate criminal proceedings under this Part.

Acts 1985, No. 722, §1; Acts 2008, No. 149, §2.