New Jersey Statutes
§ 25:2-23 — Insolvency.
New Jersey·Title 25 FRAUDS AND FRAUDULENT CONVEYANCES
25:2-23. Insolvency.
a.A debtor is insolvent if, at a fair valuation, the sum of the debtor's debts is greater than the sum of the debtor's assets.
b.A debtor who is generally not paying the debtor's debts as they become due other than as a result of a bona fide dispute is presumed to be insolvent. This presumption imposes on the party against which the presumption is directed the burden of proving that the nonexistence of insolvency is more probable than its existence.
c.(Deleted by amendment, P.L.2021, c.92.) d. 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 article.
e.Debts under this section do not in
Free access — add to your briefcase to read the full text and ask questions with AI
New Jersey § 25:2-23 (Insolvency.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 25:2-1
Conveyances of personal property in trust for use of persons making them void as to creditors.§ 25:2-20
Short title.§ 25:2-21
Definitions: A to H.§ 25:2-22
Definitions: I to Z.§ 25:2-23
Insolvency.§ 25:2-24
Value.§ 25:2-26
Factors in determining intent.§ 25:2-29
Remedies of creditor.§ 25:2-31
Extinguishment of claim for relief.§ 25:2-32
Supplementary provisions.