This article shall be known and may be cited as the “Colorado Uniform Fraudulent Transfer Act”. Source: L. 91: Entire article added, p. 1681, § 1, effective July 1. Editor’s note – Colorado legislative change: This section was numbered as section 12 in the uniform act. Colorado placed it here and renumbered the succeeding sections […]
As used in this article, unless the context otherwise requires: “Affiliate” means: A person who directly or indirectly owns, controls, or holds with power to vote twenty percent or more of the outstanding voting securities of the debtor, other than a person who holds the securities: As a fiduciary or agent without sole discretionary power […]
A debtor is insolvent if the sum of the debtor’s debts is greater than all of the debtor’s assets at a fair valuation. A debtor who is generally not paying his debts as they become due is presumed to be insolvent. A partnership is insolvent under subsection (1) of this section if the sum of […]
Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise made otherwise than in the ordinary course of the promisor’s business to furnish support to the debtor or another […]
A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditor’s claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation: With actual intent to hinder, delay, or defraud any creditor of the debtor; […]
A transfer made or obligation incurred by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made or the obligation was incurred if the debtor made the transfer or incurred the obligation without receiving a reasonably equivalent value in exchange for the transfer or obligation and the debtor was […]
For the purposes of this article: A transfer is made: With respect to an asset that is real property other than a fixture, but including the interest of a seller or purchaser under a contract for the sale of the asset, when the transfer is so far perfected that a good-faith purchaser of the asset […]
In an action for relief against a transfer or obligation under this article, a creditor, subject to the limitations in section 38-8-109, may obtain: Avoidance of the transfer or obligation to the extent necessary to satisfy the creditor’s claim; An attachment or other provisional remedy against the asset transferred or other property of the transferee […]
A transfer or obligation is not voidable under section 38-8-105 (1)(a) against a person who took in good faith and for a reasonably equivalent value or against any subsequent transferee or obligee. Except as otherwise provided in this section, to the extent a transfer is voidable in an action by a creditor under section 38-8-108 […]
A cause of action with respect to a fraudulent transfer or obligation under this article is extinguished unless action is brought: Under section 38-8-105 (1)(a), within four years after the transfer was made or the obligation was incurred or, if later, within one year after the transfer or obligation was or could reasonably have been […]
Unless displaced by the provisions of this article, the principles of law and equity, including the law merchant and the law relating to principal and agent, estoppel, laches, fraud, misrepresentation, duress, coercion, mistake, insolvency, or other validating or invalidating cause, supplement the provisions of this article. Source: L. 91: Entire article added, p. 1689, § […]
This article shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this article. Source: L. 91: Entire article added, p. 1689, § 1, effective July 1. Editor’s note – Colorado legislative change: This section was numbered as section 11 in the uniform act. […]
