(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.