§ 420-f. Use of fund name prohibited; penalties for violation. No
individual, association, partnership, or corporation shall use the words
"state savings and loan insurance fund", or any combination of any of
these words which would have the effect of leading the public in general
to believe there was any connection, actually not existing, between such
individual, association, partnership, or corporation and the fund, as
the name under which he or it shall hereafter do business. No
individual, association, partnership, or corporation shall advertise or
otherwise represent falsely by any device whatsoever that his or its
accounts are insured or in anywise guaranteed by the fund, or by the
state, or by any instrumentality thereof; and no insured member shall
advertise or otherwise represent falsely by any device whatsoever the
extent to which or the manner in which its accounts are insured by the
fund. Every individual, partnership, association, or corporation
violating this section shall be guilty of a misdemeanor punishable by a
fine of not exceeding one thousand dollars, or by imprisonment not
exceeding one year, or both.