28 U.S.C. § 3302 : US Code - Section 3302: Insolvency

Search 28 U.S.C. § 3302 : US Code - Section 3302: Insolvency

(a) In General. - Except as provided in subsection (c), a debtor
is insolvent if the sum of the debtor's debts is greater than all
of the debtor's 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 partnership's debts is greater than the
aggregate, at a fair valuation, of -
(1) all of the partnership's assets; and
(2) the sum of the excess of the value of each general
partner's non-partnership assets over the partner's 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.