Cite as: 21 CNCA § 1639

A. In every case of a fraudulent insolvency of a moneyed corporation not licensed to conduct insurance business in the State of Oklahoma, every director thereof who participated in such fraud is guilty of a misdemeanor.

B. In every case of a fraudulent insolvency of a moneyed corporation licensed to conduct the business of insurance in the State of Oklahoma, every director thereof who participated in such fraud is guilty of a felony punishable by a term of imprisonment not to exceed three (3) years or by imposition of a fine in an amount not the exceed Fifteen Thousand Dollars ($15,000.00), or by both such fine and imprisonment.

Historical Data

LA 07-21, eff. February 22, 2021.