1. A person commits a class A misdemeanor if the person is found to have knowingly used moneys granted under section 135.714 for purposes other than those provided for in sections 166.700 to 166.720.
2. No financial institution shall be liable in any civil action for providing a scholarship account's financial information to the state treasurer unless the information provided is false and the financial institution providing the false information does so knowingly and with malice.