Maine § 14 §3573 Insolvency

Maine Statutes

§ 14 §3573 — Insolvency

Maine § 14 §3573

Title 14COURT PROCEDURE -- CIVIL

Part 5PROVISIONAL REMEDIES; SECURITY

Ch. 504UNIFORM FRAUDULENT TRANSFER ACT

This text of Maine § 14 §3573 (Insolvency) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 14, § 14 §3573 (2026).

Text

1.Debts greater than assets. 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.Presumption of insolvency. A debtor who is generally not paying his debts as they become due is presumed to be insolvent.

3.Partnership insolvency. A partnership is insolvent under subsection 1 if the sum of the partnership's debts is greater than the aggregate of all of the partnership's assets at a fair valuation, and the sum of the excess of the value of each general partner's nonpartnership assets over the partner's nonpartnership debts.

4.Assets; exclusion. Assets under this section 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

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1.
Debts greater than assets.
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.
Presumption of insolvency.
A debtor who is generally not paying his debts as they become due is presumed to be insolvent.
3.
Partnership insolvency.
A partnership is insolvent under subsection 1 if the sum of the partnership's debts is greater than the aggregate of all of the partnership's assets at a fair valuation, and the sum of the excess of the value of each general partner's nonpartnership assets over the partner's nonpartnership debts.
4.
Assets; exclusion.
Assets under this section 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 Act.
5.
Debts.
Debts under this section do not include an obligation to the extent it is secured by a valid lien on property of the debtor not included as an asset.