Montana Statutes
§ 31-2-329 — Insolvency
Montana·Title 31 CREDIT TRANSACTIONS AND RELATIONSHIPS·Ch. 2 DEBTOR AND CREDITOR RELATIONSHIPS·Part 3 Uniform Fraudulent Transfer Act
31-2-329 . Insolvency.
(1)A debtor is insolvent if the sum of the debtor's debts is greater than all of the debtor's property at a fair valuation and the debtor is generally not paying the debtor's debts as they become due.
(2)Property under this section does 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 part.
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Legislative History
En. Sec. 3, Ch. 324, L. 1991; amd. Sec. 1000, Ch. 56, L. 2009.
Nearby Sections
15
§ 31-2-101
Debtor Defined§ 31-2-102
Creditor Defined§ 31-2-103
Contracts Of Debtor Are Valid§ 31-2-104
Payments In Preference§ 31-2-105
Relative Rights Of Different Creditors§ 31-2-106
Exempt Property -- Bankruptcy Proceeding§ 31-2-201
When Debtor May Execute Assignment§ 31-2-202
Insolvency -- What Constitutes§ 31-2-203
Certain Transfers Not Affected§ 31-2-204
What Debts May Be Secured§ 31-2-205
Preference Given For Wages§ 31-2-206
Preference To Be Absolute§ 31-2-208
Joint And Separate Debts§ 31-2-209
Assignment -- When Void