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CHAPTER 32. FRAUD
§ 32.45. MISAPPLICATION OF FIDUCIARY PROPERTY OR PROPERTY OF
FINANCIAL INSTITUTION.
(a) For purposes of this section:
(1) "Fiduciary" includes:
(A) a trustee, guardian, administrator,
executor, conservator, and receiver;
(B) an attorney in fact or agent appointed under
a durable power of attorney as provided by Chapter XII, Texas
Probate Code;
(C) any other person acting in a fiduciary
capacity, but not a commercial bailee unless the commercial bailee
is a party in a motor fuel sales agreement with a distributor or
supplier, as those terms are defined by Section 153.001, Tax Code;
and
(D) an officer, manager, employee, or agent
carrying on fiduciary functions on behalf of a fiduciary.
(2) "Misapply" means deal with property contrary to:
(A) an agreement under which the fiduciary holds
the property; or
(B) a law prescribing the custody or disposition
of the property.
(b) A person commits an offense if he intentionally,
knowingly, or recklessly misapplies property he holds as a
fiduciary or property of a financial institution in a manner that
involves substantial risk of loss to the owner of the property or to
a person for whose benefit the property is held.
(c) An offense under this section is:
(1) a Class C misdemeanor if the value of the property
misapplied is less than $20;
(2) a Class B misdemeanor if the value of the property
misapplied is $20 or more but less than $500;
(3) a Class A misdemeanor if the value of the property
misapplied is $500 or more but less than $1,500;
(4) a state jail felony if the value of the property
misapplied is $1,500 or more but less than $20,000;
(5) a felony of the third degree if the value of the
property misapplied is $20,000 or more but less than $100,000;
(6) a felony of the second degree if the value of the
property misapplied is $100,000 or more but less than $200,000; or
(7) a felony of the first degree if the value of the
property misapplied is $200,000 or more. |
