55-911. INSOLVENCY DEFINED. (1) 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.
(2) 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 transferee or debtor the burden of proving that it is probable that the debtor was solvent at the time of the transfer.
(3) 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 act.
(4) 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.
History:
[55-911, added 1987, ch. 202, sec. 2, p. 425; am. 2015, ch. 342, sec. 2, p. 1291.]
Structure Idaho Code
Title 55 - PROPERTY IN GENERAL
Chapter 9 - UNLAWFUL TRANSFERS
Section 55-901 - FRAUDULENT CONVEYANCES OF LAND.
Section 55-902 - GRANTEE MUST BE PRIVY TO FRAUD.
Section 55-903 - POWER OF REVOCATION — WHEN DEEMED EXECUTED.
Section 55-904 - POWER OF REVOCATION NOT SUBJECT TO EXERCISE BEFORE GRANT — WHEN DEEMED EXECUTED.
Section 55-905 - FRAUDULENT TRANSFERS OF PERSONALTY.
Section 55-906 - TRANSFERS IN FRAUD OF CREDITORS.
Section 55-907 - TRANSFERS IN FRAUD OF CREDITORS — DELIVERY AND CHANGE OF POSSESSION.
Section 55-908 - FRAUD IS A QUESTION OF FACT.
Section 55-909 - TITLE OF PURCHASER NOT IMPAIRED.
Section 55-910 - UNIFORM VOIDABLE TRANSACTIONS ACT — DEFINITIONS.
Section 55-911 - INSOLVENCY DEFINED.
Section 55-912 - VALUE DEFINED.
Section 55-913 - TRANSFER OR OBLIGATION VOIDABLE AS TO PRESENT OR FUTURE CREDITOR.
Section 55-914 - TRANSFER OR OBLIGATION VOIDABLE AS TO PRESENT CREDITOR.
Section 55-915 - WHEN TRANSFER IS MADE OR OBLIGATION IS INCURRED.
Section 55-916 - REMEDIES OF CREDITOR.
Section 55-917 - DEFENSES, LIABILITY, AND PROTECTION OF TRANSFEREE OR OBLIGEE.
Section 55-918 - EXTINGUISHMENT OF A CAUSE OF ACTION.
Section 55-919 - GOVERNING LAW.
Section 55-920 - APPLICATION OF GENERAL LAW.
Section 55-921 - UNIFORMITY OF APPLICATION AND CONSTRUCTION.