242.01 Definitions. In this chapter: (1) “Affiliate” means any of the following: (a) A person who directly or indirectly owns, controls or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than a person who holds the securities: 1. As a fiduciary or agent without sole […]
242.02 Insolvency. (1) In this section: (a) “Assets” do not include property that has been transferred, concealed or removed with intent to hinder, delay or defraud creditors or that has been transferred in a manner making the transfer voidable under this chapter. (b) “Debts” do not include an obligation to the extent it is secured […]
242.03 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 business to furnish support to the […]
242.04 Transfers fraudulent as to present and future creditors. (1) A transfer made or obligations 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: (a) With actual […]
242.05 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 reasonably equivalent value in exchange for […]
242.06 When transfer is made or obligation is incurred. For the purposes of this chapter: (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 the sale of the asset, when the transfer […]
242.07 Remedies of creditors. (1) In an action for relief against a transfer or obligation under this chapter, a creditor, subject to the limitations in s. 242.08, may obtain any of the following: (a) Avoidance of the transfer or obligation to the extent necessary to satisfy the creditor’s claim. (b) An attachment or other provisional […]
242.08 Defenses, liability and protection of transferee. (1) A transfer or obligation is not voidable under s. 242.04 (1) (a) 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 provided in this section, to the extent a transfer is […]
242.09 Statute of limitation. Actions under this chapter are barred as provided in s. 893.425. History: 1987 a. 192.
242.10 Supplementary provisions. Unless displaced by 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. History: 1987 a. 192.
242.11 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: 1987 a. 192. This section provides an explicit invitation for a court to consider the way other jurisdictions have […]
