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.