7-1-508 - Conviction for fraud or dishonest conduct as disqualification to serve as officer, director or employee or to take control of a depository institution -- Violation as misdemeanor.
7-1-508. Conviction for fraud or dishonest conduct as disqualification to serve asofficer, director or employee or to take control of a depository institution -- Violation asmisdemeanor.
Except as may be expressly authorized by the commissioner, no person convicted of afelony or a misdemeanor involving fraud or dishonest conduct may serve as an officer, director,or employee of a depository institution. No such person, acting directly or indirectly or through orin concert with any one or more persons may acquire control of any depository institution.Violation of this paragraph is a class A misdemeanor.
Enacted by Chapter 16, 1981 General Session