§ 11-41-3 - Embezzlement and fraudulent conversion.
SECTION 11-41-3
§ 11-41-3 Embezzlement and fraudulentconversion. – Every official of a financial institution and every officer, agent, clerk,servant, or other person to whom any money or other property shall be entrustedfor any specific purpose, and every person acting as executor, administrator,conservator, guardian, receiver, assignee, custodian, or trustee appointed byorder, decree or judgment of court, or by deed, will or other instrument inwriting, who shall embezzle or fraudulently convert to his or her own use, orwho shall take or secrete, with intent to embezzle or fraudulently convert tohis or her own use, any money or other property which shall have come into hisor her possession or shall be under his or her care or charge by virtue of hisor her employment or for that specific purpose or by virtue of his or heracting as executor, administrator, guardian, conservator, receiver, assignee,custodian, or trustee, and every person who shall collect or receive money orproperty from another for a commission to be retained out of the money or otherproperty so collected or received, and who shall fraudulently retain out ofthat money or property so collected or received more than the amount of thecommission, and shall embezzle or fraudulently convert it to his or her ownuse, or shall take or secrete it with intent to embezzle or fraudulently toconvert the same to his or her own use, shall be deemed guilty of larceny andshall be fined not more than fifty thousand dollars ($50,000) or three (3)times the value of the money or property thus embezzled or converted, whicheveris greater, or imprisoned not more than twenty (20) years, or both, except thatif the sum or value of the property embezzled is less than one hundred dollars($100), he or she shall be fined not more than one thousand dollars ($1,000),or imprisoned not more than one year, or both.