13-2206. Fraud in insolvency; classification
A. A person commits fraud in insolvency if, when proceedings have been or are about to be instituted for the appointment of a trustee, receiver or other person entitled to administer property for the benefit of creditors or when any other assignment, composition or liquidation for the benefit of creditors has been or is about to be made, such person:
1. Destroys, removes, conceals, encumbers, transfers or otherwise harms or reduces the value of the property with intent to defeat or obstruct the operation of any law relating to the administration of property for the benefit of creditors; or
2. Knowingly falsifies any writing or record relating to the property; or
3. Knowingly misrepresents or refuses to disclose to a receiver or other person entitled to administer property for the benefit of creditors the existence, amount or location of the property or any other information which he could be legally required to furnish to such administration; or
4. Obtains any substantial part of or interest in the debtor's estate with intent to defraud any creditor.
B. Fraud in insolvency is a class 6 felony.
Section: Previous 13-2109 13-2110 13-2201 13-2202 13-2203 13-2204 13-2205 13-2206 13-2207 13-2208 13-2301 13-2302 13-2303 13-2304 13-2305 NextLast modified: October 13, 2016