(c) Knowingly fails to ascertain on a monthly basis whether payments are due to the secured creditor, lienholder, or lessor and to apply all funds he receives for any lease or sale of the vehicle toward the satisfaction of any outstanding payment due to the secured creditor, lienholder, or lessor in a timely manner.

(2) Equity skimming of a vehicle is a class 6 felony.

Source: L. 87: Entire part added, p. 671, § 1, effective July 1. L. 89: (2) amended, p. 839, § 74, effective July 1.