533.508 False statements — penalties. 1. A director, officer, or employee of a state credit union shall not intentionally publish, disseminate, or distribute any advertising or notice containing any false, misleading, ordeceptive statements concerning rates, terms, or conditions on which loans are made, ordeposits or share installments are received, or concerning any charge which the state creditunion is authorized to impose pursuant to this chapter, or concerning the financial conditionof the state credit union. Any director, officer, or employee of a state credit union whoviolates the provisions of this subsection is guilty of a fraudulent practice. 2. Any person who maliciously or with intent to deceive makes, publishes, utters, repeats, or circulates any false statement concerning any state credit union which imputes or tendsto impute insolvency, unsound financial condition or financial embarrassment, or which maytend to cause or provoke or aid in causing or provoking a general withdrawal of depositsfrom such state credit union, or which may otherwise injure or tend to injure the business orgoodwill of such state credit union, is guilty of a simple misdemeanor. ng a general withdrawal of depositsfrom such state credit union, or which may otherwise injure or tend to injure the business orgoodwill of such state credit union, is guilty of a simple misdemeanor. 2007 Acts, ch 174, §75; 2020 Acts, ch 1063, §307Fraudulent practices, see §714.8 – 714.14 Sat Dec 23 01:36:20 2023 Iowa Code 2024, Section 533.508 (23, 1)
Iowa Legal Code