Section 328.232 - Conversion of funds as felony; violation as misdemeanor; penalties(1) A person who converts funds paid pursuant to a prepaid contract to his or her own use or benefit other than as authorized by this act or who fails to escrow or trust funds according to this act is guilty of a felony punishable by a fine of $5,000.00 or imprisonment of not more than 5 years, or both, for each violation.(2) A person who violates any other provision of this act is guilty of a misdemeanor punishable by a fine of not more than $1,000.00 or imprisonment for not more than 1 year, or both, for each violation.Amended by 2004, Act 21, s 19, eff. 1/1/2005.1986, Act 255, Eff. 7/1/1987.