N.C. Gen. Stat. § 54B-66
Criminal penalties
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
(1) The provisions of this section shall in no event extend to persons who are found to have acted only with gross negligence, simple negligence, recklessness or incompetence.
(1) The provisions of this section shall in no event extend to persons who are found to have acted only with gross negligence, simple negligence, recklessness or incompetence.
(2) In addition to any of the other penalties or remedies provided by this Article, the following shall be deemed to be Class 1 misdemeanors: The willful or knowing violation of the provisions of this Article by any employee of the Savings Institutions Division.
(2) In addition to any of the other penalties or remedies provided by this Article, the following shall be deemed to be Class 1 misdemeanors: The willful or knowing violation of the provisions of this Article by any employee of the Savings Institutions Division.
(3) The willful or knowing violation of a cease and desist order which has become final in that no further administrative or judicial appeal is available.
(3) The willful or knowing violation of a cease and desist order which has become final in that no further administrative or judicial appeal is available.
(4) In addition to any of the other penalties or remedies provided by this Article, the willful omission, making, or concurrence in making or publishing a written report, exhibit, or entry in a financial statement on the books of the association, which contains a material statement known to be false shall be deemed to be a Class 1 misdemeanor. For purposes of this section, "material" shall mean "so substantial and important as to influence a reasonable and prudent businessman or investor."
(4) In addition to any of the other penalties or remedies provided by this Article, the willful omission, making, or concurrence in making or publishing a written report, exhibit, or entry in a financial statement on the books of the association, which contains a material statement known to be false shall be deemed to be a Class 1 misdemeanor. For purposes of this section, “material” shall mean “so substantial and important as to influence a reasonable and prudent businessman or investor.”
(5) The Commissioner of Banks is authorized to enforce this section in a court of competent jurisdiction.
(5) The Commissioner of Banks is authorized to enforce this section in a court of competent jurisdiction.
History
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.