South Dakota Codified Laws 49-43-49. Negotiation of receipt without disclosing lack of title or existence of lien as misdemeanor
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Any person who deposits goods to which the person does not have title, or upon which there is a lien or mortgage, and who takes for the goods a negotiable receipt which the person afterwards negotiates for value with intent to deceive and without disclosing the person’s lack of title or the existence of the lien or mortgage is guilty of a Class 1 misdemeanor.
Attorney's Note
Under the South Dakota Laws, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class 1 misdemeanor | up to 1 year | up to $2,00 |
Terms Used In South Dakota Codified Laws 49-43-49
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 2008, ch 249, § 37.