Section 54-8-21 - Assignment or transfer of property to preferred creditors as felony--Exception

54-8-21. Assignment or transfer of property to preferred creditors as felony--Exception.Every person who, knowing that his property is insufficient for the payment of all his lawful debts, assigns, transfers, or delivers any property for the benefit of any creditor, or creditors, upon any trust or condition that any creditor shall receive a preference or priority over any other, except in the cases in which such preference is expressly allowed to be given by law, or with intent to create such preference or priority, is guilty of a Class 6 felony. Source: PenC 1877, §637; CL 1887, §6839; RPenC 1903, §668; RC 1919, §4279; SDC 1939, §13.4303; SL 1980, ch 24, §106; SL 1986, ch 406.