California · Financial Code

FIN §1327: (a) Any person who willfully and knowingly makes, circulates, or transmits to another or others, any statement or rumor, written, printed, or by word of mouth, which is untrue in fact and is directly

Misdemeanor

What this law says, in plain English

A person commits a misdemeanor by willfully making or spreading false statements about a bank's financial condition or solvency, or by helping others do so.

Read the full statutory text

(a) Any person who willfully and knowingly makes, circulates, or transmits to another or others, any statement or rumor, written, printed, or by word of mouth, which is untrue in fact and is directly or by inference derogatory to the financial condition or affects the solvency or financial standing of any bank doing business in this state, or who knowingly counsels, aids, procures, or induces another to start, transmit, or circulate any such statement or rumor, is guilty of a misdemeanor punishable by a fine of not more than one thousand dollars ($1,000), or by imprisonment for not more than one year, or both. (b) The provisions of Section 329 shall not apply to this section.

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