44-1004

44-1004. Transfers fraudulent as to present
and future creditors

A. 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 under
any of the following:

1. With actual intent to hinder, delay or defraud any creditor of the debtor.

2. Without receiving a reasonably equivalent value in exchange for the transfer or
obligation, and the debtor either:

(a) 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.

(b) Intended to incur, or believed or reasonably should have believed that he would
incur, debts beyond his ability to pay as they became due.

B. In determining actual intent under subsection A, paragraph 1, consideration may
be given, among other factors, to whether:

1. The transfer or obligation was to an insider.

2. The debtor retained possession or control of the property transferred after the
transfer.

3. The transfer or obligation was disclosed or concealed.

4. Before the transfer was made or obligation was incurred, the debtor had been
sued or threatened with suit.

5. The transfer was of substantially all of the debtor's assets.

6. The debtor absconded.

7. The debtor removed or concealed assets.

8. 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.

9. The debtor was insolvent or became insolvent shortly after the transfer was made
or the obligation was incurred.

10. The transfer occurred shortly before or shortly after a substantial debt was
incurred.

11. The debtor transferred the essential assets of the business to a lienor who
transferred the assets to an insider of the debtor.