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Searching 2019-2020 Session

The Vermont Statutes Online

 

Title 9 : Commerce and Trade

Chapter 057 : VOIDABLE TRANSACTIONS AND FALSE CHECKS

Subchapter 001 : VOIDABLE TRANSACTIONS

(Cite as: 9 V.S.A. § 2286)
  • § 2286. Insolvency

    (a) 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.

    (b) A debtor who is generally not paying his or her 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.

    (c) Assets under this section do not include property that has been transferred, concealed, or removed with the intent to hinder, delay, or defraud creditors or that has been transferred in a manner making the transfer violable under this chapter.

    (d) 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. (Added 1995, No. 179 (Adj. Sess.), § 14; amended 2017, No. 20, § 1.)