§ 137.47 THEFT BY FAILURE TO MAKE REQUIRED DISPOSITION OF PROPERTY.

   (A)   A person is guilty of theft by failure to make required disposition of property received when:

      (1)   He or she obtains property upon agreement or subject to a known legal obligation to make specified payment or other disposition whether from such property or it proceeds or from his or her own property to be reserved in equivalent amount; and

      (2)   He intentionally deals with the property as his or her own and fails to make the required payment or disposition.

   (B)   The provisions of division (A) above apply notwithstanding that it may be impossible to identify particular property as belonging to the victim at the time if the actors failure to make the required payment or disposition.

   (C)   An officer of employee of the government or of a financial institution is presumed:

      (1)   To know any legal obligation relevant to his or her criminal liability under this section; and

      (2)   He or she fails to account or pay upon lawful demand; or

      (3)   An audit reveals a shortage or falsification of accounts.

   (D)   Theft by failure to make required disposition of property received is a Class A misdemeanor if the value of the property is less than $100.

(1980 Code, § 1020.5-8)

Statutory reference:

   For similar provisions under state law, see KRS 514.070