(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.
(P.A. 91-297, S. 6.)
Cited. 239 C. 109.
Cited. 34 CA 216; 46 CA 199.
Structure Connecticut General Statutes
Chapter 923a - Uniform Fraudulent Transfer Act
Section 52-552. - Fraudulent conveyances, judgments, contracts, when void.
Section 52-552a. - Short title: Uniform Fraudulent Transfer Act.
Section 52-552b. - Definitions.
Section 52-552c. - Insolvency.
Section 52-552e. - Transfers fraudulent as to present creditors.
Section 52-552f. - Transfers fraudulent as to present creditors.
Section 52-552g. - When transfer is made or obligation is incurred.
Section 52-552h. - Remedies of creditors.
Section 52-552i. - Defenses, liability and protection of transferee.
Section 52-552j. - Extinguishment of cause of action.
Section 52-552k. - Supplementary provisions.
Section 52-552l. - Uniformity of application and construction.