Except for a credit union or an out–of–state credit union authorized to do business in this State, a person may not: Use or advertise any name or title that contains the words “credit union” or any derivation of that term; Represent itself as a credit union; Conduct business as a credit union; or Conduct business under a name or title that: Indicates or reasonably implies that the person engages in or transacts the type of business conducted by a credit union; or Is calculated to lead a person to believe that the business engaged in or transacted is the type of business conducted by a credit union. Any person who violates any provision of this subsection is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $3,000 or imprisonment not exceeding 5 years or both per occurrence. This section does not apply to an association or league of credit unions, whether or not the association or league is incorporated.