§ 43-13. Funds paid to general contractor or subcontractor must be used topay persons performing labor or furnishing material.
Any contractor or subcontractor or any officer, director or employee of suchcontractor or subcontractor who shall, with intent to defraud, retain or usethe funds, or any part thereof, paid by the owner or his agent, thecontractor or lender to such contractor or by the owner or his agent, thecontractor or lender to a subcontractor under any contract for theconstruction, removal, repair or improvement of any building or structurepermanently annexed to the freehold, for any other purpose than to paypersons performing labor upon or furnishing material for such construction,repair, removal or improvement, shall be guilty of larceny in appropriatingsuch funds for any other use while any amount for which the contractor orsubcontractor may be liable or become liable under his contract for suchlabor or materials remains unpaid, and may be prosecuted upon complaint ofany person or persons who have not been fully paid any amount due them.
The use by any such contractor or subcontractor or any officer, director oremployee of such contractor or subcontractor of any moneys paid under thecontract, before paying all amounts due or to become due for labor performedor material furnished for such building or structure, for any other purposethan paying such amounts, shall be prima facie evidence of intent to defraud.
(1932, p. 483; Michie Code 1942, § 6429b; 1968, c. 568; 1980, c. 390; 1982,c. 391; 1992, c. 713; 1998, c. 754.)
§ 43-13. Funds paid to general contractor or subcontractor must be used topay persons performing labor or furnishing material.
Any contractor or subcontractor or any officer, director or employee of suchcontractor or subcontractor who shall, with intent to defraud, retain or usethe funds, or any part thereof, paid by the owner or his agent, thecontractor or lender to such contractor or by the owner or his agent, thecontractor or lender to a subcontractor under any contract for theconstruction, removal, repair or improvement of any building or structurepermanently annexed to the freehold, for any other purpose than to paypersons performing labor upon or furnishing material for such construction,repair, removal or improvement, shall be guilty of larceny in appropriatingsuch funds for any other use while any amount for which the contractor orsubcontractor may be liable or become liable under his contract for suchlabor or materials remains unpaid, and may be prosecuted upon complaint ofany person or persons who have not been fully paid any amount due them.
The use by any such contractor or subcontractor or any officer, director oremployee of such contractor or subcontractor of any moneys paid under thecontract, before paying all amounts due or to become due for labor performedor material furnished for such building or structure, for any other purposethan paying such amounts, shall be prima facie evidence of intent to defraud.
(1932, p. 483; Michie Code 1942, § 6429b; 1968, c. 568; 1980, c. 390; 1982,c. 391; 1992, c. 713; 1998, c. 754.)
§ 43-13. Funds paid to general contractor or subcontractor must be used topay persons performing labor or furnishing material.
Any contractor or subcontractor or any officer, director or employee of suchcontractor or subcontractor who shall, with intent to defraud, retain or usethe funds, or any part thereof, paid by the owner or his agent, thecontractor or lender to such contractor or by the owner or his agent, thecontractor or lender to a subcontractor under any contract for theconstruction, removal, repair or improvement of any building or structurepermanently annexed to the freehold, for any other purpose than to paypersons performing labor upon or furnishing material for such construction,repair, removal or improvement, shall be guilty of larceny in appropriatingsuch funds for any other use while any amount for which the contractor orsubcontractor may be liable or become liable under his contract for suchlabor or materials remains unpaid, and may be prosecuted upon complaint ofany person or persons who have not been fully paid any amount due them.
The use by any such contractor or subcontractor or any officer, director oremployee of such contractor or subcontractor of any moneys paid under thecontract, before paying all amounts due or to become due for labor performedor material furnished for such building or structure, for any other purposethan paying such amounts, shall be prima facie evidence of intent to defraud.
(1932, p. 483; Michie Code 1942, § 6429b; 1968, c. 568; 1980, c. 390; 1982,c. 391; 1992, c. 713; 1998, c. 754.)
