(1) A debtor is insolvent if, at a fair valuation, the sum of the debtorís debts is greater than all of the debtorís assets.
(2) A debtor who is generally not paying debts of the debtor as they become due is presumed to be insolvent.
(3) A partnership is insolvent under subsection (1) of this section if, at a fair valuation, the sum of the partnershipís debts is greater than the aggregate of all of the partnershipís assets and the sum of the excess of the value of each general partnerís nonpartnership assets over the partnerís nonpartnership debts.
(4) Assets under this section do not include property that has been transferred, concealed or removed with intent to hinder, delay, or defraud creditors or that has been transferred in a manner making the transfer voidable under ORS 95.200 to 95.310.
(5) Debts under this section do not include an obligation to the extent the obligation is secured by a valid lien on property of the debtor not included as an asset. [1985 c.664 §2]Section: Previous 95.050 95.060 95.070 95.080 95.090 95.100 95.200 95.210 95.220 95.230 95.240 95.250 95.260 95.270 95.280 Next
Last modified: August 7, 2008