[§707-765] Extortion in the first degree. (1) A person commits the offense of extortion in the first degree if the person commits extortion:

(a) Of property or services the value of which exceeds $200 in total during any twelve-month period; or

(b) By making or financing any extortionate extension of credit, or by collecting any extension of credit by extortionate means.

(2) Extortion in the first degree is a class B felony. [L 1979, c 106, pt of §1; gen ch 1993]