(1) Any person who engages in activities authorized under this act, who fails to establish and maintain a separate trust account as required under this act, or fails to disburse funds in accordance with the requirements of this act, or misappropriates, transfers, or converts to his own use or benefit, funds belonging to or held for another person, shall, upon conviction, be guilty of a felony punishable by a fine not to exceed five thousand dollars ($5,000) per violation or by imprisonment for not more than five (5) years, or both.
(2)  Any person, except a person exempt under section 26-2239, Idaho Code, who engages in activities authorized under this act without first obtaining a license as required by this act shall, upon conviction, be guilty of a felony punishable by a fine not to exceed five thousand dollars ($5,000) or by imprisonment for not more than five (5) years, or both.

Terms Used In Idaho Code 26-2238

  • Conviction: A judgement of guilt against a criminal defendant.
  • person: includes a corporation as well as a natural person;
Idaho Code 73-114
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
    • (3)  Any person who shall fail to comply with any of the other provisions of this act shall, upon conviction, be guilty of a misdemeanor.