Any person:

1. (1) Who signs the name of a fictitious person to a subscription for, or agreement to take stock in a corporation, existing or proposed; or

2. (2) Who procures another to sign such subscription or agreement:

   1. (a) Knowing that the other person does not have the means or does not intend in good faith to comply with all the terms thereof; or
   2. (b) Under an understanding or agreement that the terms of the subscription or agreement will not be complied with or enforced;

   is guilty of a Class 2 misdemeanor.

Source: SDC 1939, § 13.4307; SL 1983, ch 15 , § 47.