| PREVIOUS SECTION | Go back to sections | Go back to the chapter | Go back to the N.J. Statutes homepage | NEXT SECTION |
New Jersey Statutes, Title: 25, FRAUDS AND FRAUDULENT CONVEYANCES
Chapter 2:
Section: 25:2-23: Insolvency.
25:2-23. Insolvency.
a. A debtor is insolvent if, at a fair valuation, the sum of the debtor's debts is greater than the sum of the debtor's assets.
b. A debtor who is generally not paying the debtor's debts as they become due other than as a result of a bona fide dispute is presumed to be insolvent. This presumption imposes on the party against which the presumption is directed the burden of proving that the nonexistence of insolvency is more probable than its existence.
c. (Deleted by amendment, P.L.2021, c.92.)
d. 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 this article.
e. Debts under this section do not include an obligation to the extent it is secured by a valid lien on property of the debtor not included as an asset.
amended 2021, c.92, s.4.
This section added to the Rutgers Database: 2021-07-06 15:54:45.
Older versions of 25:2-23 (if available):
Court decisions that cite this statute:
CLICK HERE.