Any contractor, subcontractor, or supplier on any improvement of real estate within the purview of this chapter who, having received or been entrusted with the property of another for the purpose of improvement of real estate, and with the intent to defraud, appropriates that property for any purpose other than the payment for labor, skill, or materials for improvement of the real estate for which it was received, is guilty of theft. Any person guilty of theft pursuant to this section is subject to the penalties under § 22-30A-17.

Source: SL 1917, ch 296 ; RC 1919, § 1658; SDC 1939, § 39.9901; SL 1981, ch 177 , § 1; SL 1983, ch 307 ; SL 2026, ch 180 , § 1.