Creating crime of property disposal for purposes of avoiding debt or asset repayment

Summary

The bill amends West Virginia law to make it illegal to dispose of, transfer, or conceal property with the intent to defraud creditors or avoid liability for debts, fines, or other fees. It applies to individuals, firms, or corporations who move or convey assets to prevent collection, and sets misdemeanor penalties of up to $2,500 in fines and one year in jail. The measure aims to close a loophole that allows debtors to evade financial obligations by secretly moving or selling assets.

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