California · Financial Code

FIN §1333: (a) Every director of a bank in this state who does either of the following is guilty of a misdemeanor: (1) In case of the fraudulent insolvency of such bank, the director participated in the fraud.

Misdemeanor

What this law says, in plain English

Bank directors who participate in fraudulent insolvency or willfully violate or neglect duties imposed by law are guilty of a misdemeanor. Bank insolvency is presumed fraudulent unless affairs were administered legally and with proper care.

Read the full statutory text

(a) Every director of a bank in this state who does either of the following is guilty of a misdemeanor: (1) In case of the fraudulent insolvency of such bank, the director participated in the fraud. (2) Willfully does any act as the director that is expressly forbidden by law or willfully omits to perform any duty imposed by law upon him or her as the director. (b) The insolvency of a bank is deemed fraudulent for the purposes of this section, unless its affairs appear upon investigation to have been administered clearly, legally, and with the same care and diligence that agents receiving a compensation for their services are bound, by law, to observe.

Verify at the official source: California legislative text

Facing this? Know exactly what happens next.

MOFRD turns this code section into your situation: the deadlines that apply to you, the forms your county uses, and the resolution paths people in your position actually take. Free for 3 days — no card required.

Start your matter free Ask Law Link about this code

This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.