27-28-506. Refusal to deliver assets or papers to trustees -- punishment for contempt, liability. An officer of such corporation who refuses or neglects to deliver over any such money or other things pursuant to such demand shall be deemed guilty of a contempt of court and shall be fined not exceeding $10,000 and imprisoned in the jail of the proper county until he complies with the order of the court or is otherwise discharged by due course of law, and he shall be liable to the trustees for the value of all money or other things so refused or neglected to be surrendered, together with all damages that have been sustained by the stockholders and creditors of the corporation, or any of them, in consequence of such neglect or refusal.

     History: En. Sec. 1431, C. Civ. Proc. 1895; re-en. Sec. 6964, Rev. C. 1907; re-en. Sec. 9597, R.C.M. 1921; re-en. Sec. 9597, R.C.M. 1935; R.C.M. 1947, 93-6422.