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46.4128 Defrauding secured creditors.

Cite as [A.S.C.A. § 46.4128]

(a) A person commits the crime of defrauding secured creditors if he destroys, removes, conceals, encumbers, transfers, or otherwise deals with property subject to a security interest with purpose to defraud the holder of the security interest.

(b) Defrauding secured creditors is a class A misdemeanor unless the amount remaining to be paid on the secured debt, including interest, is $500 or more, then defrauding secured creditors is a class D felony.

History: 1979, PL 16-43 § 2.

Research Guide: MCC 570.180. 15 ASC 502.