Section 103 – Insolvency.

Effective 5/9/2017 25-6-103. Insolvency. (1) A debtor is insolvent if, at fair valuation, the sum of the debtor’s debts is greater than all of the debtor’s assets. (2) (a) 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 […]

Section 104 – Value — Transfer.

Effective 5/9/2017 25-6-104. Value — Transfer. (1) 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. However, value does not include an unperformed promise made other than in the ordinary course of the promisor’s business to […]