§ 6-16-1. Definitions. As used in this chapter: (1) “Affiliate” means: (i) A person who 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 who holds the securities: (A) As a fiduciary or agent without sole […]
§ 6-16-10. Supplementary provisions. Unless displaced by the provisions of this chapter, 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 this chapter’s provisions. History of Section.P.L. 1986, ch. 438, § […]
§ 6-16-11. Uniformity of application and construction. This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it. History of Section.P.L. 1986, ch. 438, § 2.
§ 6-16-12. Short title. This chapter may be cited as the “Uniform Voidable Transactions Act.” History of Section.P.L. 1986, ch. 438, § 2; P.L. 2018, ch. 141, § 2; P.L. 2018, ch. 236, § 2.
§ 6-16-13. Governing law. (a) As used in this section, the following rules determine a debtor’s location: (1) A debtor who is an individual is located at the individual’s principal residence. (2) A debtor that is an organization and has only one place of business is located at its place of business. (3) A debtor […]
§ 6-16-14. Application to series organization. (a) As used in this section: (1) “Protected series” means an arrangement, however denominated, created by a series organization that, pursuant to the law under which the series organization is organized, has the characteristics set forth in subsection (a)(2). (2) “Series organization” means an organization that, pursuant to the […]
§ 6-16-15. Supplementary provisions. Unless displaced by the provisions of this chapter, 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 its provisions. History of Section.P.L. 2018, ch. 141, § 3; […]
§ 6-16-16. Uniformity of application and construction. This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among the states enacting it. History of Section.P.L. 2018, ch. 141, § 3; P.L. 2018, ch. 236, § 3.
§ 6-16-17. Relation to Electronic Signatures in Global and National Commerce Act. This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., but does not modify, limit, or supersede § 101(c) of that act, 15 U.S.C. § 7001(c), or authorize electronic delivery of any […]
§ 6-16-2. 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 who is generally not paying the debtor’s debts as they become due other than as a result of a bona fide dispute is presumed […]
§ 6-16-3. 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 […]
§ 6-16-4. Transfers voidable as to present and future creditors. (a) A transfer made or obligation incurred by a debtor is voidable 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: (1) With […]
§ 6-16-5. Transfers or obligations voidable as to present creditors. (a) A transfer made or obligation incurred by a debtor is voidable 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 […]
§ 6-16-5.1. Transfers voidable as to depository creditors of financial institutions closed by proclamation of the governor dated January 1, 1991 — Remedies. (a) A transfer made or obligation incurred by any financial institution closed by proclamation of the governor dated January 1, 1991, is voidable as to any depository creditor of record of any […]
§ 6-16-6. When transfer is made or obligation is incurred. For the purposes of this chapter: (1) A transfer is made: (i) 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 […]
§ 6-16-7. Remedies of creditor. (a) In an action for relief against a transfer or obligation under this chapter, a creditor, subject to the limitations in § 6-16-8, may obtain: (1) Avoidance of the transfer or obligation to the extent necessary to satisfy the creditor’s claim; (2) An attachment or other provisional remedy against the […]
§ 6-16-8. Defenses, liability, and protection of transferee or obligee. (a) A transfer or obligation is not voidable under § 6-16-4(a)(1) against a person who 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 voidable in an […]
§ 6-16-8.1. Intentional concealment of support. (a) Whoever receives or conceals an asset of another knowing that the asset is being transferred for the purpose of concealing it to avoid payment of an order or judgment for support issued pursuant to chapters 5, 9, 10, 11.1, and 13 of title 15, or pursuant to any […]
§ 6-16-8.2. Fraudulent conveyance by transferor of child support — Civil action. (a) A person who has been adjudged to be in contempt of an order or judgment for child support entered pursuant to chapters 9, 10, 11.1, and 13 of title 15 who knowingly makes a conveyance without fair consideration to an individual for […]
§ 6-16-9. Extinguishment of claim for relief. A claim for relief with respect to a transfer or obligation under this chapter is extinguished unless action is brought: (1) Under § 6-16-4(a)(1), not later than four (4) years after the transfer was made or the obligation was incurred or, if later, not later than one year […]
