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The Vermont Statutes Online
Title
08
:
Banking and Insurance
Chapter
201
:
SUPERVISION; DEFINITIONS
Subchapter
006
:
ENFORCEMENT
§
11603. Criminal penalties
(a) It shall be
a criminal offense, punishable by a fine of not more than $1,000.00 or
imprisonment of not more than one year, or both, for any person to violate any
existing order of the Commissioner, or, after receipt of a removal order, or an
order assessing a penalty, to perform any duty or exercise any power of or on
behalf of any financial institution until the penalty has been satisfied, or
otherwise satisfactorily resolved between the parties, or the removal or penalty
order is vacated by the Commissioner or by a court of competent jurisdiction.
(b) It shall be
a criminal offense, punishable by a fine of not more than $10,000.00 or
imprisonment of not more than one year, or both, for any person to willfully
violate any existing order of the Commissioner, or, after receipt of a removal
order, or an order assessing a penalty, to willfully perform any duty or
exercise any power of or on behalf of any financial institution until the
penalty has been satisfied, or otherwise satisfactorily resolved between the
parties, or the removal or penalty order is vacated by the Commissioner or by a
court of competent jurisdiction.
(c) An executive
officer, director, or holder of a principal equity interest of a financial
institution subject to the laws of this state under this title who, in
violation of a standard established by section 14110 of this title, willfully
misapplies any of the moneys, funds, or credits of such financial institution,
or any of the moneys, funds, assets, or securities entrusted to the care or
custody of such financial institution, or to the care or custody of such
executive officer, director, or holder of a principal equity interest, shall be
fined not more than $100,000.00 or imprisoned not more than five years, or
both. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
