Section 3575 - Transfers fraudulent as to present and future creditors1.Fraudulent transfer. A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditor's claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation:A. With actual intent to hinder, delay or defraud any creditor of the debtor; or [1985, c. 641, §3(NEW).]B. Without receiving a reasonably equivalent value in exchange for the transfer or obligations and the debtor: (1) Was engaged or was about to engage in a business or a transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction; or(2) Intended to incur, or believed or reasonably should have believed that he would incur, debts beyond his ability to pay as the debts became due. [1985, c. 641, §3(NEW).] [1985, c. 641, §3(NEW).]
2.Determination of actual intent. In determining actual intent under subsection 1, paragraph A, consideration may be given, among other factors, to whether: A. The transfer or obligation was to an insider; [1985, c. 641, §3(NEW).]B. The debtor retained possession or control of the property transferred after the transfer; [1985, c. 641, §3(NEW).]C. The transfer or obligation was disclosed or concealed; [1985, c. 641, §3(NEW).]D. Before the transfer was made or obligation was incurred, the debtor sued or threatened with suit; [1985, c. 641, §3(NEW).]E. The transfer was of substantially all the debtor's assets; [1985, c. 641, §3(NEW).]F. The debtor absconded; [1985, c. 641, §3(NEW).]G. The debtor removed or concealed assets; [1985, c. 641, §3(NEW).]H. The value of the consideration received by the debtor was reasonably equivalent to the value of the asset transferred or the amount of the obligation incurred; [1985, c. 641, §3(NEW).]I. The debtor was insolvent or became insolvent shortly after the transfer was made or the obligation was incurred; [1985, c. 641, §3(NEW).]J. The transfer occurred shortly before or shortly after a substantial debt was incurred; and [1985, c. 641, §3(NEW).]K. The debtor transferred the essential assets of the business to a lienor who had transferred the assets to an insider of the debtor. [1985, c. 641, §3(NEW).] [1985, c. 641, §3(NEW).]
1985, c. 641, § 3 (NEW) .