Section 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.Acts 1975, No. 280, § 2304; A.S.A. 1947, § 41-2304; Acts 2009, No. 485, § 1.