Offenses.
Section 108
SEC. 108. Offenses.— Any officer, director or committee member of a co-operative: With a paid-up capital of five thousand pesos or more, who fails without reasonable excuse to give any notice, send any return or document, do or allow to be done anything which the cooperative, officer, director, committee member or member is by this Act required to give, send, do or allow to be done; or Who neglects or refuses to do any act or to furnish information required for the purposes of this Act by the Administrator or other person duly authorized by him in writing in this behalf; or Who makes a false return or furnishes false information; or Who recommends or sanctions for his own personal use or benefit a loan in the name of any other person in spite of the concurrence of such other person; or Who grants loans to non-members except on the security of their deposits or to members on the pledge of their shares or for the return of shares of certain members or all the members without resolution of the board or the general assembly, as the case may be, with a view to depriving the creditors of the co-operative or to circumvent the provisions of Chapters XI and XII; shall, upon conviction be punished by fine of not less than fifty pesos nor more than five hundred pesos, in the discretion of the court, without prejudice to other legal remedies. Any officer, director, committee member or member of a co-operative guilty of an offense for which no specific penalty has been provided in this Act shall be liable to a fine of not less than twenty-five pesos nor more than one hundred pesos, in the discretion of the court, without prejudice to other legal remedies.