Arkansas § 5-37-203 Defrauding a secured creditor

Arkansas Statutes

§ 5-37-203 — Defrauding a secured creditor

(a)(1) A person commits the offense of defrauding a secured creditor in the first degree if he or she destroys, removes, cancels, encumbers, transfers, or otherwise disposes of property subject to a security interest with the purpose to hinder enforcement of the security interest.

(2)Defrauding a secured creditor in the first degree is a Class D felony.

(b)(1) A person commits the offense of defrauding a secured creditor in the second degree if he or she uses motor vehicle insurance policy proceeds in excess of one thousand dollars ($1,000) obtained from a settlement of a property damage claim on a motor vehicle subject to a security interest in contravention of the security agreement that creates or provides for the security interest in the motor vehicle.

(2)Defrauding a secured credi

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(a) (1) A person commits the offense of defrauding a secured creditor in the first degree if he or she destroys, removes, cancels, encumbers, transfers, or otherwise disposes of property subject to a security interest with the purpose to hinder enforcement of the security interest. (2) Defrauding a secured creditor in the first degree is a Class D felony. (b) (1) A person commits the offense of defrauding a secured creditor in the second degree if he or she uses motor vehicle insurance policy proceeds in excess of one thousand dollars ($1,000) obtained from a settlement of a property damage claim on a motor vehicle subject to a security interest in contravention of the security agreement that creates or provides for the security interest in the motor vehicle. (2) Defrauding a secured creditor in the second degree is a Class A misdemeanor.

Arkansas § 5-37-203 (Defrauding a secured creditor) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.