State Codes and Statutes
Statutes > North-carolina > Chapter_39 > GS_39-23_5§39‑23.5. Transfers fraudulent as to present creditors.
(a) A transfer made orobligation incurred by a debtor is fraudulent as to a creditor whose claimarose before the transfer was made or the obligation was incurred if the debtormade the transfer or incurred the obligation without receiving a reasonablyequivalent value in exchange for the transfer or obligation, and the debtor wasinsolvent at that time or the debtor became insolvent as a result of thetransfer or obligation.
(b) A transfer made by adebtor is voidable as to a creditor whose claim arose before the transfer wasmade if the transfer was made to an insider for an antecedent debt, the debtorwas insolvent at that time, and the insider had reasonable cause to believethat the debtor was insolvent. (1997‑291, s. 2.)
