Every person who violates any provision of this act: (a) Other than by misappropriating funds in violation of an agreement shall be guilty of a misdemeanor, and, upon conviction shall be fined not less than $100 nor more than $500, or shall be imprisoned for not less than 10 days nor more than 90 days, or both; and (b) by misappropriating funds in violation of an agreement in an amount:

1. (1) Of $25,000 or more shall be guilty of a severity level 7, nonperson felony;
2. (2) of at least $1,000 but less than $25,000 shall be guilty of a severity level 9, nonperson felony; or
3. (3) of less than $1,000 shall be guilty of a class A nonperson misdemeanor.

L. 1953, ch. 54, § 5, L. 1994, ch. 348, § 1; L. 2006, ch. 194, § 14; May 25.