§ 694. Violations. Any person who violates, and the officers of a
corporation and stockholders holding ten percent or more of the stock of
a corporation which is not publicly traded who knowingly permit the
corporation to violate, subdivisions one and two of sections six hundred
ninety-one and six hundred ninety-two of this article shall be guilty of
a misdemeanor and upon conviction shall be subject to a fine not to
exceed one thousand dollars, or imprisonment for not more than one year,
or both, by any court of competent jurisdiction. Criminal proceedings
based upon violation of such sections may be instituted by the
commissioner and/or any persons aggrieved by such violations.