Alabama § 8-9B-6 Transfer Voidable as to Present Creditor

Alabama Statutes

§ 8-9B-6 — Transfer Voidable as to Present Creditor

Alabama·Title 8 Commercial Law and Consumer Protection·Ch. 9B Alabama Uniform Voidable Transactions Act

(a)A transfer made by a debtor is voidable as to a creditor whose claim arose before the transfer was made if the debtor made the transfer without the debtor receiving a reasonably equivalent value in exchange for the transfer and the debtor was insolvent at that time or the debtor became insolvent as a result of the transfer.

(b)A transfer made by a debtor is voidable 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.

(c)Subject to Section 8-9B-3(b), a creditor making a claim for relief under subsection (a) or (b) has the burden of proving the elements of the claim for relief by a preponderance

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(a) A transfer made by a debtor is voidable as to a creditor whose claim arose before the transfer was made if the debtor made the transfer without the debtor receiving a reasonably equivalent value in exchange for the transfer and the debtor was insolvent at that time or the debtor became insolvent as a result of the transfer.
(b) A transfer made by a debtor is voidable 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.
(c) Subject to Section 8-9B-3(b), a creditor making a claim for relief under subsection (a) or (b) has the burden of proving the elements of the claim for relief by a preponderance of the evidence.

Alabama § 8-9B-6 (Transfer Voidable as to Present Creditor) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.