Section 428.005 – Short title.

Effective – 28 Aug 1992 428.005. Short title. — Sections 428.005 to 428.059 may be cited as the “Uniform Fraudulent Transfer Act”. ­­——– (L. 1992 S.B. 448)

Section 428.009 – Definitions.

Effective – 28 Aug 1992 428.009. Definitions. — As used in sections 428.005 to 428.059, the following terms mean: (1) “Affiliate”: (a) 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 […]

Section 428.014 – Insolvency.

Effective – 28 Aug 1992 428.014. Insolvency. — 1. 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. 2. A debtor who is generally not paying his debts as they become due is presumed to be insolvent. 3. A partnership is […]

Section 428.019 – Value.

Effective – 28 Aug 1992 428.019. Value. — 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, but value does not include an unperformed promise made otherwise than in the ordinary course of the promisor’s […]

Section 428.024 – Transfers fraudulent as to present and future creditors.

Effective – 28 Aug 1992 428.024. Transfers fraudulent as to present and future creditors. — 1. 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 […]

Section 428.029 – Transfers fraudulent as to present creditors.

Effective – 28 Aug 1992 428.029. Transfers fraudulent as to present creditors. — 1. 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 […]

Section 428.034 – When transfer is made or obligation is incurred.

Effective – 28 Aug 1992 428.034. When transfer is made or obligation is incurred. — For the purposes of sections 428.005 to 428.059: (1) A transfer is made: (a) 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 […]

Section 428.039 – Remedies of creditors.

Effective – 28 Aug 1992 428.039. Remedies of creditors. — 1. In an action for relief against a transfer or obligation under sections 428.005 to 428.059, a creditor, subject to the limitations in section 428.044, may obtain: (1) Avoidance of the transfer or obligation to the extent necessary to satisfy the creditor’s claim; (2) An […]

Section 428.044 – Defenses, liability, and protection of transferee.

Effective – 28 Aug 1992 428.044. Defenses, liability, and protection of transferee. — 1. A transfer or obligation is not voidable under subdivision (1) of subsection 1 of section 428.024 against a person who took in good faith and for a reasonably equivalent value or against any subsequent transferee or obligee. 2. Except as otherwise […]

Section 428.049 – Extinguishment of claim for relief or cause of action.

Effective – 28 Aug 1992 428.049. Extinguishment of claim for relief or cause of action. — A claim for relief or cause of action with respect to a fraudulent transfer or obligation under sections 428.005 to 428.059 is extinguished unless action is brought: (1) Under subdivision (1) of subsection 1 of section 428.024, within four […]

Section 428.054 – Supplementary provisions.

Effective – 28 Aug 1992 428.054. Supplementary provisions. — Unless displaced by the provisions of sections 428.005 to 428.059, 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. ­­——– […]

Section 428.059 – Uniformity of applications and construction.

Effective – 28 Aug 1992 428.059. Uniformity of applications and construction. — Sections 428.005 to 428.059 shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of sections 428.005 to 428.059 among states enacting it. ­­——– (L. 1992 S.B. 448)