Montana Code 31-2-329. Insolvency
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31-2-329. Insolvency. (1) A debtor is insolvent if the sum of the debtor’s debts is greater than all of the debtor’s property at a fair valuation and the debtor is generally not paying the debtor’s debts as they become due.
Terms Used In Montana Code 31-2-329
- Debtor: means a person who is liable on a claim. See Montana Code 31-2-328
- Property: means anything that may be the subject of ownership. See Montana Code 31-2-328
- Transfer: means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset and includes payment of money, release, lease, and creation of a lien or other encumbrance. See Montana Code 31-2-328
(2)Property under this section does 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 part.