Section 35-16-103 - Qualified affidavit requirementsA qualified affidavit shall state that:
(1) The transferor has full right, title, and authority to transfer the assets to the trust;(2) The transfer of the assets to the trust will not render the transferor insolvent;(3) The transferor does not intend to defraud a creditor by transferring the assets to the trust;(4) The transferor does not have any pending or threatened court actions against the transferor, except for those court actions identified by the transferor on an attachment to the affidavit;(5) The transferor is not involved in any administrative proceedings, except for those administrative proceedings identified on an attachment to the affidavit;(6) The transferor does not contemplate filing for relief under the federal bankruptcy code; and(7) The assets being transferred to the trust were not derived from unlawful activities.