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Can you summarize 13A ALCA Chapter 9, Article 2?
FORGERY AND FRAUDULENT PRACTICES. > Business Frauds.
Short Summary
The provided legal document content covers various aspects of criminal code provisions related to business frauds. It includes the misapplication of property, sale and delivery of coal, receiving deposits in a failing financial institution, issuing a false financial statement, fraud in insolvency, defrauding judgment creditors, defrauding secured creditors, bait advertising, false advertising, deceptive business practices, and falsifying business records. These provisions apply to individuals involved in these fraudulent activities, such as fiduciaries, officers or managers of financial institutions, individuals engaged in deceptive business practices, and individuals involved in falsifying business records. The penalties for non-compliance or violation of these provisions range from Class A misdemeanors to Class B misdemeanors, with fines and imprisonment as potential consequences. Exemptions are specified for fraud in insolvency in Sections 13A-10-101, 13A-10-102, and 13A-10-109.
Whom does it apply to?
Any person who misapplies or disposes of property as a fiduciary, any person involved in the sale and delivery of coal, officers, managers, or other persons participating in the direction of a financial institution, any person issuing a false financial statement, any person involved in fraud in insolvency, any person defrauding judgment creditors, any person defrauding secured creditors, any person engaged in deceptive business practices, any person involved in falsifying business records
What does it govern?
Misapplication of property, sale and delivery of coal, receiving deposits in a failing financial institution, issuing a false financial statement, fraud in insolvency, defrauding judgment creditors, defrauding secured creditors, bait advertising, false advertising, deceptive business practices, falsifying business records
What are exemptions?
Exemptions are specified in Sections 13A-10-101, 13A-10-102, and 13A-10-109 for fraud in insolvency.
What are the Penalties?
Misapplication of property: Class A misdemeanor, no specific penalties mentioned. Sale and delivery of coal: Class A misdemeanor, fines ranging from $100.00 to $2,000.00 per offense, imprisonment in the county jail for up to one year per offense. Receiving deposits in a failing financial institution: Class A misdemeanor. Issuing a false financial statement: Class B misdemeanor. Fraud in insolvency: Class B misdemeanor. Defrauding judgment creditors: Class B misdemeanor. Defrauding secured creditors: Class A misdemeanor. Bait advertising: Class A misdemeanor. False advertising: Class B misdemeanor. Deceptive business practices: Class B misdemeanor. Falsifying business records: Class B misdemeanor.
Jurisdiction
Alabama