45-6-315. Defrauding creditors.
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/mt/title-45/chapter-6/part-3/45-6-315·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
45-6-315 . Defrauding creditors.
(1)A person commits the offense of defrauding secured creditors if the person destroys, conceals, encumbers, transfers, removes from the state, or otherwise deals with property subject to a security interest with the purpose to hinder enforcement of that interest.
(2)"Security interest" means an interest in personal property or fixtures as defined in the Uniform Commercial Code, 30-1-201 (2)(jj).
(3)A person convicted of the offense of defrauding secured creditors shall be fined not to exceed $500 or be imprisoned in the county jail for a term not to exceed 6 months, or both.
(4)A person who destroys, conceals, encumbers, transfers, removes from the state, or otherwise deals with property subject to a security interest with the purpose of depriving the owner of the property or of the proceeds and value from the property may be prosecuted under 45-6-301 .