After having made a mortgage deed to personal property or a bill of sale to secure debt, any person who sells or otherwise disposes of the property or causes the property to be moved outside of the state before the payment of the mortgage debt or the debt secured by the bill of sale without the consent of and with intent to defraud the mortgagee shall be guilty of a misdemeanor if loss is thereby sustained by the holder of the mortgage or bill of sale.
(Ga. L. 1871-72, p. 71, §§ 1, 2; Code 1873, § 4600; Ga. L. 1875, p. 26, § 1; Code 1882, § 4600; Ga. L. 1887, p. 37, § 1; Penal Code 1895, § 671; Ga. L. 1910, p. 59, § 1; Penal Code 1910, § 720; Ga. L. 1921, p. 123, § 1; Code 1933, § 67-9901; Ga. L. 1982, p. 3, § 44.)
RESEARCH REFERENCES
Am. Jur. 2d.
- 37 Am. Jur. 2d, Fraudulent Conveyances, § 83.
C.J.S.- 37 C.J.S., Fraudulent Conveyances, § 50.
ALR.- Duty and liability of trustee under mortgage, deed of trust, or other trust instrument, to holders of bonds or other obligations secured thereby, 90 A.L.R.2d 501.