Sec. 274.
Purchasing and attempting to collect a note, knowing signature was fraudulently obtained—Any person who shall receive into his possession for collection or sale or who shall purchase any promissory note, bill of exchange, due bill, order, contract, or paper writing whatever, obtained in the manner mentioned in the preceding section of this chapter, knowing the same to have been obtained with the intent to cheat and defraud, and any person who shall take any steps to collect any promissory note, bill of exchange, due bill, order, contract, paper or writing whatever, knowing the signature to have been obtained by fraud, with intent to cheat and defraud, shall be guilty of a felony, punishable by imprisonment in the state prison not more than 10 years, or by fine of not more than 5,000 dollars.
History: 1931, Act 328, Eff. Sept. 18, 1931 ;-- CL 1948, 750.274
Former Law: See section 2 of Act 228 of 1879, being How., § 9354; CL 1897, § 11367; CL 1915, § 15085; and CL 1929, § 16995.