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Can you summarize MTCO 45-6-315?
Theft and Related Offenses > Defrauding creditors
Short Summary
This legal document, found in the Montana Code under Crimes, specifically addresses the offense of defrauding secured creditors. It prohibits any person from destroying, concealing, encumbering, transferring, removing from the state, or otherwise dealing with property subject to a security interest with the purpose to hinder enforcement of that interest. The document defines ‘security interest’ as an interest in personal property or fixtures as defined in the Uniform Commercial Code. The penalties for this offense include a fine of up to $500 and/or imprisonment in the county jail for a maximum of 6 months. Additionally, if a person engages in these actions with the purpose of depriving the owner of the property or its proceeds and value, they may be prosecuted under a different section of the law.
Whom does it apply to?
Any person who destroys, conceals, encumbers, transfers, removes from the state, or otherwise deals with property subject to a security interest with the purpose to hinder enforcement of that interest
What does it govern?
Defrauding secured creditors
What are exemptions?
No exemptions are mentioned
What are the Penalties?
A person convicted of the offense of defrauding secured creditors may be fined up to $500 or imprisoned in the county jail for a term not exceeding 6 months, or both
Jurisdiction
Montana