Transfers fraudulent as to present creditors
Sec. 15. A transfer made or an obligation incurred by a debtor is
fraudulent as to a creditor whose claim arose before the transfer was
made or the obligation was incurred if:
(1) the debtor made the transfer or incurred the obligation
without receiving a reasonably equivalent value in exchange for
the transfer or obligation; and
(2) the debtor:
(A) was insolvent at that time; or
(B) became insolvent as a result of the transfer or obligation.
As added by P.L.2-2002, SEC.3.
Last modified: May 24, 2006