54-8A-5. Transfers fraudulent as to present creditors.
(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.
Source: SL 1987, ch 365, ยง5.
Structure South Dakota Codified Laws
Title 54 - Debtor and Creditor
Chapter 08A - Uniform Fraudulent Transfer Act
Section 54-8A-1 - Definitions.
Section 54-8A-4 - Transfers fraudulent as to present and future creditors.
Section 54-8A-5 - Transfers fraudulent as to present creditors.
Section 54-8A-6 - When transfer is made or obligation is incurred.
Section 54-8A-7 - Remedies of creditors.
Section 54-8A-8 - Defenses, liability and protection of transferee.
Section 54-8A-9 - Extinguishment of cause of action.
Section 54-8A-10 - Supplementary provisions.