New York Statutes
§ 271 — Insolvency
§ 271. Insolvency.
(a)A debtor is insolvent if, at a fair valuation,\nthe sum of the debtor's debts is greater than the sum of the debtor's\nassets.\n (b) A debtor that is generally not paying the debtor's debts as they\nbecome due other than as a result of a bona fide dispute is presumed to\nbe insolvent. The presumption imposes on the party against which the\npresumption is directed the burden of proving that the nonexistence of\ninsolvency is more probable than its existence.\n (c) Assets under this section do not include property that has been\ntransferred, concealed or removed with intent to hinder, delay or\ndefraud creditors, or that has been transferred in a manner making the\ntransfer voidable under this article.\n (d) Debts under this section do not include an obligation to
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