(a) A person commits the crime of misapplication of property if the person knowingly misapplies property that has been entrusted to that person as a fiduciary or that is property of the government or a financial institution. (b) It is not a defense to a prosecution under this section that it may be impossible to identify particular property as belonging to the victim at the time of the defendant's misapplication. (c) For purposes of this section, 'misapply' means to deal with or dispose of property contrary to (1) law; (2) a judicial rule or order; or (3) the obligations of a fiduciary relationship. (d) Misapplication of property is (1) a class C felony if the value of the property misapplied is $750 or more; (2) a class A misdemeanor if the value of the property misapplied is less than $750.
Alaska Legal Code