32-2-938. Concealing actions from directors.
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/mt/title-32/chapter-2/part-9/32-2-938·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
32-2-938 . Concealing actions from directors. An officer or employee of a mutual association who intentionally conceals from the directors of the association, or from a committee of the mutual association when the directors have delegated authority, any discount or loan made by the corporation or from its assets between the regular meetings of its board of directors or committee, the purchase of any security, the sale of any of its securities, or any guarantee, repurchase agreement, or any other agreement through which the corporation is obligated, during the same period, is subject to the penalties set forth in 32-2-607 (5).