(1) Terms defined in Sections 76-1-101.5 , 76-16-101 , and 76-16-201 apply to this section. (2) An actor commits unlawful circulation of a corporation or association note if the actor: (a) is: (i) a director, officer, agent, or member of a corporation or association; or (ii) a person who aids or abets a person described in Subsection (2)(a)(i); and (b) without the authority from a corporation's or association's directors, issues or puts in circulation a note of the corporation or association. (3) A violation of Subsection (2) is a third degree felony.
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