Ask Reggi Your Question Now
Can you summarize SDCL Chapter 54-8?
DEBTOR AND CREDITOR > Acts In Fraud Of Creditors
Short Summary
The provided legal document content pertains to acts in fraud of creditors. It outlines the actions that are considered fraudulent and the associated penalties. The document states that any person who is a party to a conveyance or assignment of property made with the intent to defraud prior or subsequent purchasers, delay or defraud creditors, or any person who is privy to or knows of such conveyance or assignment, is guilty of a Class 6 felony. Additionally, any person who removes property out of any county with the intent to prevent it from being levied upon by execution or attachment, or who secretes, encumbers, transfers, or disposes of property with the intent to delay or defraud any creditor, is guilty of a Class 1 misdemeanor. The document does not mention any specific exemptions. The penalties for violating these provisions are specified as a Class 6 felony and a Class 1 misdemeanor, respectively.
Whom does it apply to?
Any person who is a party to a conveyance or assignment of property made with intent to defraud prior or subsequent purchasers, delay or defraud creditors, or any person who is privy to or knows of such conveyance or assignment
What does it govern?
Acts in Fraud of Creditors
What are exemptions?
No specific exemptions are mentioned in the document
What are the Penalties?
Guilty of a Class 6 felony for intentionally being a party to a conveyance or assignment made with intent to defraud prior or subsequent purchasers, delay or defraud creditors; Guilty of a Class 1 misdemeanor for removing property out of any county with intent to prevent it from being levied upon by execution or attachment, or for secreting, encumbering, transferring, or disposing of property with intent to delay or defraud any creditor
Jurisdiction
South Dakota