(a)
(1) A person commits the offense of defrauding a secured creditor in the first degree if he or she destroys, removes, cancels, encumbers, transfers, or otherwise disposes of property subject to a security interest with the purpose to hinder enforcement of the security interest.
(2) Defrauding a secured creditor in the first degree is a Class D felony.
(b)
(1) A person commits the offense of defrauding a secured creditor in the second degree if he or she uses motor vehicle insurance policy proceeds in excess of one thousand dollars ($1,000) obtained from a settlement of a property damage claim on a motor vehicle subject to a security interest in contravention of the security agreement that creates or provides for the security interest in the motor vehicle.
(2) Defrauding a secured creditor in the second degree is a Class A misdemeanor.
Structure Arkansas Code
Subtitle 4 - Offenses Against Property
Chapter 37 - Forgery and Fraudulent Practices
Subchapter 2 - Offenses Generally
§ 5-37-202. Falsifying a business record
§ 5-37-203. Defrauding a secured creditor
§ 5-37-204. Fraud in insolvency
§ 5-37-205. Issuing a false financial statement
§ 5-37-206. Receiving a deposit in a failing financial institution
§ 5-37-207. Fraudulent use of a credit card or debit card
§ 5-37-208. Criminal impersonation
§ 5-37-209. Criminal possession of a forgery device
§ 5-37-210. Obtaining a signature by deception
§ 5-37-211. Defrauding a judgment creditor
§ 5-37-212. Unlawfully using a slug
§ 5-37-213. Criminal simulation
§ 5-37-214. Fraud — Aggregation of amounts
§ 5-37-215. Fraudulently filing a Uniform Commercial Code financing statement
§ 5-37-216. Defrauding a prospective adoptive parent
§ 5-37-219. Unlawful possession of a skimmer
§ 5-37-226. Filing instruments affecting title or interest in real property
§ 5-37-227. Financial identity fraud — Nonfinancial identity fraud — Restitution — Venue