Utah § 75B-1-306 Affidavit of solvency.

Utah Statutes

§ 75B-1-306 — Affidavit of solvency.

Utah § 75B-1-306

Title 75BTrusts

Ch. 75B-1General Provisions

Part 75B-1-3Asset Protection Trust

This text of Utah § 75B-1-306 (Affidavit of solvency.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 75B-1-306 (2026).

Text

With respect to a transfer of assets to an asset protection trust, a settlor may sign a sworn affidavit stating that at the time of the transfer of the assets to the trust:

(1)the settlor has full right, title, and authority to transfer the assets to the trust;

(2)the transfer of the assets to the trust will not render the settlor insolvent;

(3)the settlor does not intend to hinder, delay, or defraud a known creditor by transferring the assets to the trust;

(4)there is no pending or threatened court action against the settlor, except for a court action identified by the settlor on an attachment to the affidavit;

(5)the settlor is not involved in an administrative proceeding that is reasonably expected to have a material adverse effect on the financial condition of the settlor, except

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With respect to a transfer of assets to an asset protection trust, a settlor may sign a sworn affidavit stating that at the time of the transfer of the assets to the trust:
(1) the settlor has full right, title, and authority to transfer the assets to the trust;
(2) the transfer of the assets to the trust will not render the settlor insolvent;
(3) the settlor does not intend to hinder, delay, or defraud a known creditor by transferring the assets to the trust;
(4) there is no pending or threatened court action against the settlor, except for a court action identified by the settlor on an attachment to the affidavit;
(5) the settlor is not involved in an administrative proceeding that is reasonably expected to have a material adverse effect on the financial condition of the settlor, except an administrative proceeding identified on an attachment to the affidavit;
(6) at the time of the transfer of the assets to the trust, the settlor is not in default of a domestic support obligation;
(7) the settlor does not contemplate filing for relief under the provisions of United States Code, Title 11, Bankruptcy; and
(8) the assets being transferred to the trust were not derived from unlawful activities.