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.
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