Securities Fraud
(a) A person commits the crime of defrauding secured creditors if he destroys, removes, conceals, encumbers, transfers or otherwise deals with property subject to a security interest with intent to hinder enforcement of that interest.
(b) "Security interest" means an interest in personal property or fixtures as defined in Section 7-1-201(37).
(c) Defrauding secured creditors is a Class A misdemeanor.
The above is an excerpt (as of 05 May 2006) from Title 13A Criminal Section of The Code of Alabama 1975. This information is for reference only. For further explanation please contact Russell Crumbley's Law Office.