31-2-334. Transfers fraudulent as to present creditors. (1) 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.
(2) 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.
History: En. Sec. 6, Ch. 324, L. 1991.
Structure Montana Code Annotated
Title 31. Credit Transactions and Relationships
Chapter 2. Debtor and Creditor Relationships
Part 3. Uniform Fraudulent Transfer Act
31-2-304. through 31-2-310 reserved
31-2-318. through 31-2-320 reserved
31-2-327. Uniformity of application and construction
31-2-331. and 31-2-332 reserved
31-2-333. Transfers fraudulent as to present and future creditors
31-2-334. Transfers fraudulent as to present creditors
31-2-335. When transfer made or obligation incurred
31-2-336. through 31-2-338 reserved
31-2-339. Remedies of creditors
31-2-340. Defenses, liability, and protection of transferee