Purchase of interest of land or lease of an interest in land on behalf of restricted foreign entity prohibited -- Disclosure required

(1) A person may not purchase an interest in land or lease an interest in land on behalf of a restricted foreign entity. (2) A person violates Subsection (1) if the person knowingly purchases an interest in land or leases an interest in land: (a) using funds provided by a restricted foreign entity; or (b) under the direction of a restricted foreign entity. (3) An individual purchasing an interest in land shall disclose if the individual served in the military of a restricted foreign entity. (4) An individual violates Subsection (3) if the individual fails to disclose to the county recorder of the county in which the interest in land is located, on a form described in Subsection 63L-13-201(7), that the individual served in the military of a restricted foreign entity. (5) A person that violates Subsection (1) is guilty of a third degree felony. (6) An individual who violates Subsection (3) is guilty of a third degree felony.