517.060 Defrauding secured creditors.
106 words·~1 min read·
/ky/chapter-517/517-060·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)A person is guilty of defrauding secured creditors when he destroys, damages,
removes, conceals, encumbers, transfers, or otherwise deals with property subject to
a security interest with intent either to lower the value of the secured interest or
unlawfully to hinder enforcement of that interest.
(2)Defrauding secured creditors is a Class A misdemeanor unless the value of the
property subject to the security interest is:
(a)Five hundred dollars ($500) or more up to ten thousand dollars ($10,000), in
which case it is a Class D felony; or
(b)Ten thousand dollars ($10,000) or more, in which case it is a Class C felony.