§351-82 Effect of conviction upon contract; deposit of monetary compensation with the commission. If the person indicted or charged is subsequently convicted, the person, firm, corporation, partnership, association, or other legal entity which entered into a contract of the type identified in section 351-81 shall:

(1) Deposit fifty per cent of the monetary compensation paid under such contract into a collection account established by the commission pursuant to section 351-83 and deposit the other fifty per cent of such monetary compensation in a special account established by the commission pursuant to section 351-84 if a timely appeal from the conviction is filed and the contract provides that monetary compensation is payable to the convicted person; or

(2) Deposit all monetary compensation paid under such contract with the commission to a special account established pursuant to section 351-84, if a timely appeal from the conviction is:

(A) Filed and the contract provides that the monetary compensation is payable to a person other than the convicted person;

(B) Filed, the conviction is affirmed on appeal, and no further appellate action is allowed; or