13-2206. Fraud in insolvency;
classification
A. A person commits fraud in insolvency if, when proceedings have been or are about
to be instituted for the appointment of a trustee, receiver or other person entitled to
administer property for the benefit of creditors or when any other assignment,
composition or liquidation for the benefit of creditors has been or is about to be made,
such person:
1. Destroys, removes, conceals, encumbers, transfers or otherwise harms or reduces
the value of the property with intent to defeat or obstruct the operation of any law
relating to the administration of property for the benefit of creditors; or
2. Knowingly falsifies any writing or record relating to the property; or
3. Knowingly misrepresents or refuses to disclose to a receiver or other person
entitled to administer property for the benefit of creditors the existence, amount or
location of the property or any other information which he could be legally required to
furnish to such administration; or
4. Obtains any substantial part of or interest in the debtor's estate with intent
to defraud any creditor.
B. Fraud in insolvency is a class 6 felony.
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