Section 12
SEC. 12. Any owner, partner, director or officer of a rural bank who permits or causes to be paid out any funds of said bank, or who transfers or causes to be transferred liquidation, penalties, any security or property of said bank after said bank has been placed under liquidation by the Philippine National Bank, shall be punished by imprisonment for not less than one year nor more than five years, or by a fine of not less than one thousand pesos nor more than five thousand pesos, or by both such imprisonment and fine in the discretion of the court.