(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.
Added by Acts 2002, c. 26, § 2, eff. Oct. 1, 2002.
Formerly Art. 27, § 174.