2014 Kentucky Revised Statutes
CHAPTER 517 - BUSINESS AND COMMERCIAL FRAUDS
517.060 Defrauding secured creditors.

Download as PDF 517.060 Defrauding secured creditors. (1) (2) 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. 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. Effective:July 12, 2012 History: Amended 2012 Ky. Acts ch. 93, sec. 3, effective July 12, 2012. -Amended 1978 Ky. Acts ch. 342, sec. 1, effective June 17, 1978. -- Created 1974 Ky. Acts ch. 406, sec. 150, effective January 1, 1975.