A person who, with the intent to defraud, secures the issue by a bailee of a negotiable document of title, knowing at the time of issue that any or all of the goods are not in possession of the bailee, by inducing the bailee to believe that the goods are in the bailee’s possession, shall be punished:
1. Where the value of the goods purported to be covered by the document of title is $1,200 or more, for a category D felony as provided in NRS 193.130. In addition to any other penalty, the court shall order the person to pay restitution.
2. Where the value is less than $1,200, for a misdemeanor.
(Added to NRS by 1965, 927; A 1967, 511; 1979, 1450; 1989, 1440; 1995, 1230; 2011, 171; 2019, 4438, effective July 1, 2020)