TITLE 6
Commercial Law – General Regulatory Provisions

CHAPTER 6-16
Uniform Fraudulent Transfer Act

SECTION 6-16-5


§ 6-16-5 Transfers fraudulent as to present creditors.

(a) 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 the transfer or obligation and the debtor was insolvent at that time or the debtor became insolvent as a result of the transfer or obligation.

(b) A transfer made by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made if the transfer was made to an insider for an antecedent debt; the debtor was insolvent at that time; and the insider had reasonable cause to believe that the debtor was insolvent.

History of Section.
(P.L. 1986, ch. 438, § 2; P.L. 2014, ch. 528, § 14.)