Section 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.