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2020 Maryland Statutes
Criminal Law
Title 8 - Fraud and Related Crimes
Subtitle 4 - Other Commercial Fraud
Section 8-402 - Fraudulent Misrepresentation by Corporate Officer or Agent
Universal Citation:
MD. Criminal Law Code Ann. § 8-402 (2020)
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(a) With intent to defraud, an officer or agent of a corporation may not sign, or in any manner assent to, a statement to or a publication for the public or the shareholders that contains false representations of the corporation’s assets, liabilities, or affairs, to:
(1) enhance or depress the market value of the corporation’s shares or obligations; or
(2) commit fraud in another manner.
(b) A person who violates this section is guilty of a misdemeanor and on conviction is subject to imprisonment not less than 6 months and not exceeding 3 years or a fine not less than $1,000 and not exceeding $10,000 or both.
(c) A person who violates this section is subject to § 5-106(b) of the Courts Article.
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