Any person having any item of personal property in his possession or under his control by virtue of a lease, rental agreement, or rental-purchase agreement who willfully and fraudulently fails to return said item of personal property within ten (10) days after the lease, rental agreement, or rental-purchase agreement has expired, or who fraudulently secretes or appropriates said property to any use or purpose not within the due and lawful execution of his lease or rental agreement shall be guilty of embezzlement.

Amended by Laws 1987, c. 47, § 2, emerg. eff. April 23, 1987; Amended by Laws 1988, c. 106, § 9, eff. November 1, 1988.