RCW 19.40.021
Insolvency.
(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 party against which the presumption is directed the burden of proving that the nonexistence of insolvency is more probable than its existence.
(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 chapter.
(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.
[ 2017 c 57 § 2; 1987 c 444 § 2.]
NOTES:
Effective date—1987 c 444: See note following RCW 19.40.011.
Structure Revised Code of Washington
Title 19 - Business Regulations—Miscellaneous
Chapter 19.40 - Uniform Voidable Transactions Act.
19.40.041 - Transfers voidable as to present and future creditors.
19.40.051 - Transfers voidable as to present creditors.
19.40.061 - When transfer is made or obligation is incurred.
19.40.071 - Remedies of creditors.
19.40.081 - Defenses, liability, and protection of transferee.
19.40.091 - Extinguishment of claim for relief.
19.40.111 - Application to series organization.
19.40.121 - Relation to electronic signatures in global and national commerce act.
19.40.902 - Supplementary provisions.
19.40.903 - Uniformity of application and construction.
19.40.904 - Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.
19.40.905 - Effect on prior transfers and obligations—2017 c 57.