1. A transfer made or obligation incurred by a debtor is voidable as to a creditor
whose claim arose before the transfer was made or the obligation was incurred if the
debtor made the transfer or incurred the obligation without receiving a reasonably
equivalent value in exchange for the transfer or obligation and the debtor was insolvent
at that time or the debtor became insolvent as a result of the transfer or obligation.
2. A transfer made by a debtor is voidable as to a creditor whose claim arose before
the transfer was made if the transfer was made to an insider for an antecedent debt,
the debtor was insolvent at that time, and the insider had reasonable cause to believe
that the debtor was insolvent.
3. Subject to subsection 2 of section 13-02.1-02, a creditor making a claim for relief under subsection 1 or 2 has the burden of proving
the elements of the claim for relief by a preponderance of the evidence.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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