(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 that 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. The 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) 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 subchapter.
(d) Debts under 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.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 5 - Contracts, Notes, and Other Commercial Instruments
Subchapter 2 - Uniform Voidable Transactions Act
§ 4-59-204. Transfer or obligation voidable as to present or future creditor
§ 4-59-205. Transfer or obligation voidable as to present creditor
§ 4-59-206. When transfer is made or obligation is incurred
§ 4-59-207. Remedies of creditor
§ 4-59-208. Defenses, liability, and protection of transferee or obligee
§ 4-59-209. Extinguishment of claim for relief
§ 4-59-211. Application to series organization
§ 4-59-212. Supplementary provisions
§ 4-59-213. Uniformity of application and construction
§ 4-59-214. Relation to Electronic Signatures in Global and National Commerce Act