Any person who knowingly and maliciously, makes, circulates, or transmits any statement, rumor or written, printed or spoken indication, that directly or indirectly results in the discredit of the institution, its directors, or its executive officials, or that affects the solvency or liquidity of a savings and credit cooperative, or that counsels, assists, procures or induces another person or entity, to originate, transmit, or circulate any statement or rumor of such nature, shall be guilty of a felony, and upon conviction thereof, shall be sanctioned with a fine of not less than one thousand dollars ($1,000), or imprisonment for a term of not more than five (5) years, or both penalties, at the discretion of the court. Provided, That the true verbal or written statements issued for the record by the members of the cooperative, in the course of the regular and special assemblies of the institution, shall not be deemed to violate the provisions of this section.
History —Oct. 28, 2002, No. 255, § 9.07.