428.014. Insolvency. - Missouri Statutes

Insolvency.

428.014. 1. A debtor is insolvent if the sum of thedebtor's debts is greater than all of the debtor's assets at afair valuation.

2. A debtor who is generally not paying his debts as theybecome due is presumed to be insolvent.

3. A partnership is insolvent under subsection 1 of thissection if the sum of the partnership's debts is greater than theaggregate, at a fair valuation, of all of the partnership'sassets and the sum of the excess of the value of each generalpartner's nonpartnership assets over the partner's nonpartnershipdebts.

4. Assets under this section do not include property thathas been transferred, concealed, or removed with intent tohinder, delay, or defraud creditors or that has been transferredin a manner making the transfer voidable under sections 428.005to 428.059.

5. Debts under this section do not include an obligation tothe extent it is secured by a valid lien on property of thedebtor not included as an asset.

(L. 1992 S.B. 448)