28-U.S.C.-3302

§3302 – Insolvency

Pathway

Title 28 > Part VI > Chapter 176 > Subchapter D > Section 3302

Details

• Reference: Section 3302
• Legend: §3302 – Insolvency
• USCode Year: 2013

Provision Content

(a) In General.—Except as provided in subsection (c), a debtor is insolvent if the sum of the debtors debts is greater than all of the debtors assets at a fair valuation.

(b) Presumption.—A debtor who is generally not paying debts as they become due is presumed to be insolvent.

(c) Calculation.—A partnership is insolvent under subsection (a) if the sum of the partnerships debts is greater than the aggregate, at a fair valuation, of—

(1) all of the partnerships assets; and

(2) the sum of the excess of the value of each general partners non-partnership assets over the partners non-partnership debts.

(d) Assets.—For purposes of this section, assets do not include property that is 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 this subchapter.

(e) Debts.—For purposes of this section, debts do not include an obligation to the extent such obligation is secured by a valid lien on property of the debtor not included as an asset.

(Added Pub. L. 101–647, title XXXVI, §3611, Nov. 29, 1990, 104 Stat. 4961.)

U.S. Encyclopedia of Law Coverage

28-U.S.C.-3201 in the Legal Encyclopedia: Judiciary

In this entry about 28-U.S.C.-3201, find legal reference material, bibliographies and premiere content related to judiciary in the American Encyclopedia of Law, presenting a comprehensive view of the United States judiciary-specific issues, written by authorities in the field.

28-U.S.C.-3104 in the Legal Encyclopedia: Proceedings

In this entry about 28-U.S.C.-3104, find legal reference material, bibliographies and premiere content related to proceedings in the American Encyclopedia of Law, presenting a comprehensive view of the United States proceedings-specific issues, written by authorities in the field.

28-U.S.C.-3301 in the Legal Encyclopedia: Federal Debt Collection Procedure

In this entry about 28-U.S.C.-3301, find legal reference material, bibliographies and premiere content related to federal debt collection procedure in the American Encyclopedia of Law, presenting a comprehensive view of the United States federal debt collection procedure-specific issues, written by authorities in the field.

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