§ 39-23.8 – Defenses, liability, and protection of transferee or obligee.
39-23.8. Defenses, liability, and protection of transferee or obligee. (a) A transfer or obligation is not voidable under G.S. 39-23.4(a)(1) against a person that took in good faith and for a reasonably equivalent value given the debtor or against any subsequent transferee or obligee. (b) To the extent a transfer is avoidable in an action […]
§ 39-23.9 – Extinguishment of claim for relief.
39-23.9. Extinguishment of claim for relief. A claim for relief with respect to a voidable transfer or obligation under this Article is extinguished unless action is brought: (1) Under G.S. 39-23.4(a)(1), not later than four years after the transfer was made or the obligation was incurred or, if later, not later than one year after […]
§ 39-23.1 – Definitions.
39-23.1. Definitions. In this Article, the following definitions apply: (1) Affiliate. – Any of the following: a. A person that directly or indirectly owns, controls, or holds with power to vote, twenty percent (20%) or more of the outstanding voting securities of the debtor, other than a person that holds the securities: 1. As a […]
§ 39-23.2 – Insolvency.
39-23.2. Insolvency. (a) A debtor is insolvent if, at a fair valuation, the sum of the debtor’s debts is greater than the sum of the debtor’s assets. (b) A debtor that is generally not paying the debtor’s debts as they become due other than as a result of a bona fide dispute is presumed to […]
§ 39-23.3 – Value.
39-23.3. Value. (a) 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 […]