If any officer, person, firm or corporation having custody, control or possession of any money belonging to any school district, road district, municipal township, city or town in any such counties, shall withhold and fail to pay over the same after lawful demand shall have been made therefor, such officer, person, firm or corporation shall be liable to a penalty equal to twenty-five percent (25%) of the money wrongfully withheld, which shall belong to such county, school district, road district, municipal township, city or village, and which penalty may be recovered in any action brought to recover such money.
R.L. 1910, § 1516.