§ 11-41-12 - Fraudulent conversion by agent or factor. - Rhode Island Statutes

SECTION 11-41-12

   § 11-41-12  Fraudulent conversion by agentor factor. – Every agent or factor who shall deposit or pledge any goods, wares, ormerchandise or any bill of lading, receipt, or certificate of a warehousekeeper or inspector, or any warrant or order for the delivery of goods withwhich he or she shall have been entrusted, or which shall have been consignedto him or her as a security for any money or other property borrowed orreceived by the agent or factor, and shall apply or dispose of the proceeds tohis or her own use, in violation of good faith, and with intent to defraud anyowner of the goods, shall be deemed and taken to be guilty of a misdemeanor andshall be fined not exceeding one thousand dollars ($1,000) or be imprisoned notexceeding five (5) years.