§ 23-150. Transfers of assets to avoid disclosure prohibited.

(a)

For purposes of this section, a person required to file or the spouse of the person required to file shall not transfer any asset, interest, or liability required to be disclosed pursuant to this division to any person or business for the purpose of avoiding disclosure, unless such transfer is irrevocable. A transfer shall not be irrevocable if there exists any contract, letter, counter letter, note, or any other legally enforceable agreement or authority which if exercised or enforced would require or authorize any asset, interest, or liability transferred by a person required to file or the spouse of the person required to file to a person or business to revert back to such person or spouse.

(b)

(1)

The sale of property subject to owner financing shall not be a transfer prohibited by subsection (a) of this section.

(2)

A recorded bond for deed contract shall not be a transfer prohibited by subsection (a) of this section.

(Ord. No. 23831, § 1, 6-9-10)