20 THE CUBA REVIEW 



Fourteenth: To buy real or personal property, chattels or choses in action, placing 

 them in the name of third persons with prejudices to the creditors. 



Fifteenth: To have advanced payments in prejudice to the creditors. 



Sixteenth: To negotiate or sell drafts on persons or entities who have no funds 

 in their possession, nor an open credit, nor authorization to make such drafts, provided 

 the holder of the document should receive the damage of not being able to collect 

 the same. 



Seventeenth: To receive and apply to his own and personal use money, securities 

 or credits belonging to the bank after the bank is in suspension of payments, or to 

 have made improper use of any of its holdings. 



141. Private bankers, or managing partners, presidents, managers, directors or 

 employees who perform any of the following acts shall be criminally liable and shall 

 be punished with major imprisonment in its maximum degree: 



First: To incur in excessive or disproportionate expenses in their personal atten- 

 tions, or in that of the banking institution, it being understood that a presumption of 

 this criminal act exists when the expenses are in excess of the receipts that are collected 

 by way of lawful remuneration. 



Second: To have suffered losses in any kind of gambling in excess of the amount 

 received as monthly salary or compensation. 



Third: To sell or dispose of securities or properties at a price below the market, 

 which were purchased on credit and were still due. 



Fourth: To have failed to present the corresponding petition for suspension of 

 payments to the National Banking Commission as soon as they are unable to continue 

 meeting their current obligations, which petition should be presented within forty-eight 

 hours. 



Fifth: To have offered resistance to the inspectors that have been appointed 

 for investigating the transactions of the bank, by not presenting their books after 

 proper demand has been made upon them to do so. 



Sixth: To refuse to obey the orders and instructions of the superior authorities 

 who have jurisdiction over the banking business. 



Seventh: To certify checks without the existence of available funds. 



Eighth: To grant, offer or promise in any manner, a payment, reward, or gift 

 to the inspectors or officials appointed for the examination of the administration and 

 accounting of the bank. 



142. The persons that assist or participate in the acts referred to in sections 

 140 and 141 shall be considered and punished as the authors thereof, and as accom- 

 plices and abettors under the terms and in the manner established in the Penal Code. 



143. In order to commence prosecution for said acts, the accusation of the 

 person damaged, of the Secretary of the Treasury, of the National Banking Commission 

 or the fiscal will suffice. 



144. The provisions of the Penal Code shall be considered supplementary in 

 all cases not especially foreseen by this law. 



145. The directors, officials or employees of a bank organized as a corporation, 

 who have tendered their vote and consent in favor of loans made to the directors, 

 employees of the bank or to their relatives, or to enterprises or business with which 

 they are related, shall be punished with major imprisonment in its maximum degree 

 and shall be civilly liable, solidarily, for the amount of the loan. 



146. Insolvent banks cannot receive deposits. The owners, partners, directors, 

 officials or employees of an insolvent bank who accept deposits, knowing that the bank 

 is insolvent, shall be punished with major imprisonment in its maximum degree and 

 shall be solidarily liable for the amount of the deposits so received. 



147. Every person, association or company who in their business unduly use 

 the terms bank or banking association, shall be punished with the penalty of major 

 imprisonment in its maximum degree. 



148. Every person that circulates false rumors with respect to the financial situa- 



