S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2555
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 20, 2017
                                ___________
 
 Introduced  by  M. of A. BRINDISI, McDONALD -- read once and referred to
   the Committee on Codes
 
 AN ACT to amend the penal law, in relation to establishing the crime  of
   theft by failure to make required disposition of funds received
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The penal law is amended by adding a new section 165.18  to
 read as follows:
 § 165.18 THEFT   BY  FAILURE  TO  MAKE  REQUIRED  DISPOSITION  OF  FUNDS
            RECEIVED.
   1. A PERSON IS GUILTY OF THEFT BY FAILURE TO MAKE REQUIRED DISPOSITION
 OF FUNDS RECEIVED WHEN HE OR SHE OBTAINS  PROPERTY  UPON  AGREEMENT,  OR
 SUBJECT TO A KNOWN LEGAL OBLIGATION, TO MAKE SPECIFIED PAYMENTS OR OTHER
 DISPOSITION,  WHETHER FROM SUCH PROPERTY OR ITS PROCEEDS OR FROM HIS OWN
 PROPERTY TO BE RESERVED IN EQUIVALENT AMOUNT AND HE OR SHE INTENTIONALLY
 DEALS WITH THE PROPERTY OBTAINED AS HIS OR HER OWN AND FAILS TO MAKE THE
 REQUIRED PAYMENT OR DISPOSITION.  THEFT  BY  FAILURE  TO  MAKE  REQUIRED
 DISPOSITION  OF  FUNDS  RECEIVED  APPLIES NOTWITHSTANDING THAT IT MAY BE
 IMPOSSIBLE TO IDENTIFY PARTICULAR PROPERTY AS BELONGING TO THE VICTIM AT
 THE TIME OF THE FAILURE OF THE ACTOR TO MAKE  THE  REQUIRED  PAYMENT  OR
 DISPOSITION.
   2. AN OFFICER OR EMPLOYEE OF THE GOVERNMENT OR OF A FINANCIAL INSTITU-
 TION IS PRESUMED:
   (A)  TO  KNOW  ANY  LEGAL  OBLIGATION  RELEVANT TO HIS OR HER CRIMINAL
 LIABILITY UNDER THIS SECTION; AND
   (B) TO HAVE DEALT WITH THE PROPERTY AS HIS OR HER OWN  IF  HE  OR  SHE
 FAILS  TO  PAY  OR  ACCOUNT UPON LAWFUL DEMAND, OR IF AN AUDIT REVEALS A
 SHORTAGE OR FALSIFICATION OF ACCOUNTS.
   THEFT BY FAILURE TO MAKE REQUIRED DISPOSITION OF FUNDS RECEIVED  IS  A
 CLASS A MISDEMEANOR.
   § 2. This act shall take effect on the first of November next succeed-
 ing the date on which it shall have become a law.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD02061-01-7