Introduced
by
To revise the law that makes it a crime for a debtor to transfer, conceal, or remove assets with the intent to hinder, delay, or defraud creditors. The bill would clarify the circumstances that determine whether payments made to an employee or officer for a "non-compete" agreement, or an for an employment "retention" agreement to keep the employee working for the employer for a certain period of time, are "fraudulent transfers" of the debtor's assets.
Referred to the Committee on Employment Relations, Training, and Safety
