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This entry was published on 2014-09-22
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SECTION 185.00
Fraud in insolvency
Penal (PEN) CHAPTER 40, PART 3, TITLE K, ARTICLE 185
§ 185.00 Fraud in insolvency.

1. As used in this section, "administrator" means an assignee or
trustee for the benefit of creditors, a liquidator, a receiver or any
other person entitled to administer property for the benefit of
creditors.

2. A person is guilty of fraud in insolvency when, with intent to
defraud any creditor and knowing that proceedings have been or are about
to be instituted for the appointment of an administrator, or knowing
that a composition agreement or other arrangement for the benefit of
creditors has been or is about to be made, he

(a) conveys, transfers, removes, conceals, destroys, encumbers or
otherwise disposes of any part of or any interest in the debtor's
estate; or

(b) obtains any substantial part of or interest in the debtor's
estate; or

(c) presents to any creditor or to the administrator any writing or
record relating to the debtor's estate knowing the same to contain a
false material statement; or

(d) misrepresents or fails or refuses to disclose to the administrator
the existence, amount or location of any part of or any interest in the
debtor's estate, or any other information which he is legally required
to furnish to such administrator.

Fraud in insolvency is a class A misdemeanor.