Kentucky Statutes 517.060 – Defrauding secured creditors
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(1) 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.
(2) Defrauding secured creditors is a Class A misdemeanor unless the value of the property subject to the security interest is:
For details, see § 532.060 and § 532.090
(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.
(2) Defrauding secured creditors is a Class A misdemeanor unless the value of the property subject to the security interest is:
Attorney's Note
Under the Kentucky Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class C felony | between 5 and 10 years | between $1,000 and $10,000 |
| Class D felony | between 1 and 5 years | between $1,000 and $10,000 |
| Class A misdemeanor | up to 12 months | up to $500 |
Terms Used In Kentucky Statutes 517.060
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
(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.