§ 54B-66. Criminal penalties.
§ 54B‑66. Criminalpenalties.
(a) The provisions ofthis section shall in no event extend to persons who are found to have actedonly with gross negligence, simple negligence, recklessness or incompetence.
(b) In addition to anyof the other penalties or remedies provided by this Article, the followingshall be deemed to be Class 1 misdemeanors:
(1) The willful orknowing violation of the provisions of this Article by any employee of theSavings Institutions Division.
(2) The willful orknowing violation of a cease and desist order which has become final in that nofurther administrative or judicial appeal is available.
(c) In addition to anyof the other penalties or remedies provided by this Article, the willfulomission, 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 aClass 1 misdemeanor. For purposes of this section, "material" shallmean "so substantial and important as to influence a reasonable andprudent businessman or investor."
(d) The Commissioner ofBanks is authorized to enforce this section in a court of competentjurisdiction. (1981,c. 282, s. 3; 1989, c. 76, s. 22; 1993, c. 539, s. 433; 1994, Ex. Sess., c. 24,s. 14(c); 2001‑193, s. 16.)