A Handbook of Stock Exchange Laws; Affecting Members, Their Customers, Brokers and Investors (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914. Excerpt: ... PART V LAWS OF THE STATE OF NEW YORK RELATING TO STOCKBROKERS Penal Law (L. 1909. chap. 88. Consol. Laws, chap. 40.) Sec. 295. Receiving deposits in insolvent bank.--An officer, agent, teller or clerk of any bank, banking association or savings bank, and every individual banker or agent, and every private banker or agent and any teller or clerk of an individual banker, or of a private banker who receives any deposit, knowing that such bank or association or banker is insolvent, is guilty of a misdemeanor, if the amount or value of such deposit be less than twenty-five dollars; if the amount or value of such deposit be twenty-five dollars or over, such person shall be guilty of a felony, punishable by imprisonment for not less than one nor more than five years or by a fine of not less than five hundred nor more than three thousand dollars, or by both. Source.--Penal Code, Sec. 601, as amended by L. 1902, ch. 148. Application of section.--Cragie v. Hadley, 99 N. Y. 131 (1885); Atkinson v. Rochester Printing Co. 114 N. Y. 175 (1889); Hall v. Baker, 66 App. Div. 131,135, 72 N. Y Supp. 965 (1901). Guilty knowledge must be shown on the part of the officers. Stapelton v. O'Dell, 21 Misc. 94, 47 N. Y. Supp. 13 (1897). The fact that the state superintendent of banks had closed the bank does not tend to prove such guilty knowledge. The condition of the bank, whether solvent or not, is yet undetermined. People v. St. NicholasBank, 77 Hun, 159,166,28N.Y. Supp.407 (1894). Admission of unproved paper on the trial of an indictment under this section may be reversible error. People v. Severance, 67 Hun, 182, 22 N. Y. Supp. 91 (1893). (L. 1909, chap. 88. Consol. Laws 1909, chap. 40.) Sec. 298. Misconduct by banks and bankers.--Any moneyed corporation or individual banker ...