If such debtor, being a person, or its officers or agents making such sale, if a firm or corporation, shall, without the consent of the secured party or assignee, appropriate such funds to his own use, or the use and benefit of such firm or corporation, or shall knowingly or willfully, with the intent or effect of depriving such secured party or assignee thereof, secrete such proceeds, or any part thereof, or mix and mingle the same with his own or with the funds of such firm or corporation, or who, after demand for the payment thereof, refuses or neglects to pay same over to such secured party or assignee to the extent of the unpaid secured debt, or cause same to be done, or who shall put such fund to any other use inconsistent with such trust, shall be guilty of embezzlement and shall, upon conviction, be punished by fine of not less than One Hundred Dollars ($100.00), nor more than Five Hundred Dollars ($500.00), or by imprisonment in the State Penitentiary for a term of not more than five (5) years, or by both such fine and imprisonment.

Laws 1967, c. 155, § 2, emerg. eff. May 1, 1967; Amended by Laws 1997, H.B. No. 1213 c. 133. § 422 (effective date amended to July 1, 1999, by Laws 1998, 1st Extr. Sess., c. 2, §§ 23-26, eff. June 19, 1998) (superseded document available ); Amended by Laws 1999, 1st Extr. Sess., HB 1009, § 308, emerg. eff. July 1, 1999 (superseded document available).