Pub. L. 88-243, subtit. I, sec. 3

Sec. 3. (a) Section 839 of the code of law for the District of Columbia, approved March 3, 1901 (chapter 854, 31 Stat. 1326; D.C. Code, 1961 ed., sec. 22–1209), is amended to read as follows: “(a) A person or any legal successor in interest of such person, having executed a security agreement creating a security interest in personal property securing a monetary obligation owed to a secured party and having under the security agreement: “(1) both the right of sale or other disposition of the property and the duty to account to the secured party for the pro weds of the disposition, sells or otherwise disposes of the property but willfully and wrongfully fails to account to the secured party for proceeds of disposition; or 77 Stat. 770 “(2) no right of sale or other disposition of the property, willfully and wrongfully secretes, withholds, sells, or disposes of the property, or converts it to his own use, or, without the consent of the secured party, removes it out of the District, or maliciously injures or destroys it, in violation of the security agreement— if the lesser of the value of the proceeds not so accounted for or of the property so secreted, withheld, sold, disposed of, converted, removed, or injured or destroyed, or, in either case, of the unpaid balance of the monetary obligation so secured, is more than $100, shall be fined not more than $5,000 or imprisoned not more than five years, or both; or, if the lesser of any of the values as herein described is $100 or less, shall be lined not more than $1,000 or imprisoned not more than one year, or both. “(b) In a case in which a debtor in possession of personal property subject to a security interest, who would be guilty of an offense under (his section, is a corporation or a partnership, an officer, director, partner, or agent of the debtor who aids or abets in the commission of the offense shall be punished as provided by subsection (a) of this section. “(c) As used in this section, ‘security agreement’, ‘security interest’, and ‘secured party’ have the same meanings as those given to the terms by sections 28:9—105(h), 28:1—201(38), and 28:9—105 (i), respectively, of the District of Columbia Code.”.