2015 Arkansas Code
Title 5 - Criminal Offenses
Subtitle 4 - Offenses Against Property
Chapter 37 - Forgery and Fraudulent Practices
Subchapter 2 - Offenses Generally
§ 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 creditor in the second degree is a Class A misdemeanor.
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