564

Every director, officer, employee or agent of the Bank who embezzles, abstracts or willfully misapplies any moneys, funds, credits or securities of the Bank, or who, without being duly authorized, issues or draws any certificate of deposit, draws any order or bill of exchange, makes any acceptance, assigns any note, bond, draft, bill of exchange, mortgage, judgment or decree for, or who makes any false entry in any book, report or statement of, the Bank, with intent, in any of such cases, to injure or defraud the Bank or any other company, body politic or corporate, or any individual person, or to deceive any officer of the Bank or any agent appointed to examine the affairs of the Bank, and every person who with like intent aids or abets any director, officer, agent or employee in any violation of this section, shall be deemed guilty of a felony, and shall be imprisoned for not less than ten (10) years; Provided, That the Bank shall collect and cover into its funds, from the amount of any life insurance policy which the bank may have taken for such director, officer, employee or agent and the premiums which the Bank may have paid, up to the sum embezzled or disposed of by the

t of any life insurance policy which the bank may have taken for such director, officer, employee or agent and the premiums which the Bank may have paid, up to the sum embezzled or disposed of by the director, officer, employee or agent, and the director, officer, employee or agent, his beneficiaries, assignees or successors in interest shall lose all rights to the benefits of such policy. History —Sept. 23, 1948, No. 17, p. 290, §§ 16, 22; Apr. 26, 1957, No. 3, p. 3, § 3.