13-01-13. Unlawfully preferring creditors - Penalty.
86 words·~1 min read·
/nd/title-13/chapter-13-01-general-provisions/13-01-13·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Every person who, knowing that the person's property is insufficient for the payment of all of the person's lawful debts, shall assign, transfer, or deliver any property for the benefit of any creditor or creditors upon any trust or condition that any creditor shall receive a preference or priority over any other creditor, or with intent to create such a preference or priority, is guilty of a class A misdemeanor. This section does not apply to the giving or creating of preferences expressly allowed by law.