47-30-1. Fraudulent subscription agreement--Misdemeanor.

Any person:

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

(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

(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.