Felony Offenses in the Texas Penal Code

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Texas Penal Code, Section 32.45 - Misapplication of Fiduciary Property or Property of Financial Institution

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.

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