Establishes the crime of theft by failure to make required disposition of funds received making it a class A misdemeanor when the person intentionally deals with the property received as his or her own and fails to make the required payment or disposition of funds.
STATE OF NEW YORK
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2555
2017-2018 Regular Sessions
IN ASSEMBLY
January 20, 2017
___________
Introduced by M. of A. BRINDISI, McDONALD -- read once and referred to
the Committee on Codes
AN ACT to amend the penal law, in relation to establishing the crime of
theft by failure to make required disposition of funds received
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The penal law is amended by adding a new section 165.18 to
2 read as follows:
3 § 165.18 Theft by failure to make required disposition of funds
4 received.
5 1. A person is guilty of theft by failure to make required disposition
6 of funds received when he or she obtains property upon agreement, or
7 subject to a known legal obligation, to make specified payments or other
8 disposition, whether from such property or its proceeds or from his own
9 property to be reserved in equivalent amount and he or she intentionally
10 deals with the property obtained as his or her own and fails to make the
11 required payment or disposition. Theft by failure to make required
12 disposition of funds received applies notwithstanding that it may be
13 impossible to identify particular property as belonging to the victim at
14 the time of the failure of the actor to make the required payment or
15 disposition.
16 2. An officer or employee of the government or of a financial institu-
17 tion is presumed:
18 (a) to know any legal obligation relevant to his or her criminal
19 liability under this section; and
20 (b) to have dealt with the property as his or her own if he or she
21 fails to pay or account upon lawful demand, or if an audit reveals a
22 shortage or falsification of accounts.
23 Theft by failure to make required disposition of funds received is a
24 class A misdemeanor.
25 § 2. This act shall take effect on the first of November next succeed-
26 ing the date on which it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD02061-01-7
