South Dakota § 54-8A-5 Transfers fraudulent as to present creditors.

South Dakota Statutes

§ 54-8A-5 — Transfers fraudulent as to present creditors.

South Dakota·Title 54 DEBTOR AND CREDITOR·Ch. 54-8A UNIFORM FRAUDULENT TRANSFER ACT

(a)A transfer made or obligation incurred by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made or the obligation was incurred if the debtor made the transfer or incurred the obligation without receiving a reasonably equivalent value in exchange for the transfer or obligation and the debtor was insolvent at that time or the debtor became insolvent as a result of the transfer or obligation.

(b)A transfer made by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made if the transfer was made to an insider for an antecedent debt, the debtor was insolvent at that time, and the insider had reasonable cause to believe that the debtor was insolvent.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made or the obligation was incurred if the debtor made the transfer or incurred the obligation without receiving a reasonably equivalent value in exchange for the transfer or obligation and the debtor was insolvent at that time or the debtor became insolvent as a result of the transfer or obligation. (b) A transfer made by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made if the transfer was made to an insider for an antecedent debt, the debtor was insolvent at that time, and the insider had reasonable cause to believe that the debtor was insolvent.

South Dakota § 54-8A-5 (Transfers fraudulent as to present creditors.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.