Arizona Laws 13-2303. Financing extortionate extensions of credit
Current as of: 2023 | Check for updates
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A person who knowingly advances money or property, whether as a gift, loan, investment, pursuant to a partnership or profit sharing agreement or otherwise, to any person, with reasonable grounds to believe that it is the intention of that person to use the money or property so advanced, directly or indirectly, for the purpose of making extortionate extensions of credit, is guilty of a class 2 felony.
Terms Used In Arizona Laws 13-2303
- Felony: means an offense for which a sentence to a term of imprisonment in the custody of the state department of corrections is authorized by any law of this state. See Arizona Laws 13-105
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Knowingly: means , with respect to conduct or to a circumstance described by a statute defining an offense, that a person is aware or believes that the person's conduct is of that nature or that the circumstance exists. See Arizona Laws 13-105
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means a human being and, as the context requires, an enterprise, a public or private corporation, an unincorporated association, a partnership, a firm, a society, a government, a governmental authority or an individual or entity capable of holding a legal or beneficial interest in property. See Arizona Laws 13-105
- Property: means anything of value, tangible or intangible. See Arizona Laws 13-105