Oklahoma § 24-114 Tests for determining insolvency.

Oklahoma Statutes

§ 24-114 — Tests for determining insolvency.

Oklahoma § 24-114

Title 24Debtor And Creditor

This text of Oklahoma § 24-114 (Tests for determining insolvency.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 24, § 24-114 (2026).

Text

A.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.

B.A debtor who is generally not paying his debts as they become due is presumed to be insolvent.

C.A partnership is insolvent pursuant to the provisions of subsection A of this section if the sum of the partnership's debts is greater than the aggregate, at a fair valuation, of all of the partnership's assets and the sum of the excess of the value of each general partner's nonpartnership assets over the partner's nonpartnership debts.

D.Assets pursuant to the provisions of 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

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A. 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. B. A debtor who is generally not paying his debts as they become due is presumed to be insolvent. C. A partnership is insolvent pursuant to the provisions of subsection A of this section if the sum of the partnership's debts is greater than the aggregate, at a fair valuation, of all of the partnership's assets and the sum of the excess of the value of each general partner's nonpartnership assets over the partner's nonpartnership debts. D. Assets pursuant to the provisions of 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 pursuant to the provisions of the Uniform Fraudulent Transfer Act. E. Debts pursuant to the provisions of 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.