New Jersey § 14a:14-1

§ 14a:14-1.

As used in this chapter, and unless the context requires otherwise (a) “ corporation ” means a domestic corporation and a foreign corporation; (b) “ creditor ” means the holder of any claim, of whatever character, against a corporation, whether

secured or unsecured, matured or unmatured, liquidated or unliquidated, absolute or

contingent; (c) “ debt ” includes any legal liability, whether matured or unmatured, liquidated or unliquidated,

absolute, fixed or contingent; (d) “ encumbrance ” means a mortgage, security interest, lien or charge of any nature in or upon property; (e) “ fair consideration ” is given for property or an obligation when, in exchange for such property or obligation,

as a fair equivalent therefor, and in good faith, property is transferred or an antecedent

debt is satisfied; or when such property or obligation is received in good faith

to secure a present advance or antecedent debt in amount not disproportionately small

as compared with the value of the property or obligation obtained; (f) “ insolvent ”: a corporation shall be deemed to be insolvent for the purposes of this chapter

(1) when the aggregate of its property, exclusive of any property which it may have

conveyed, transferred, concealed, removed or permitted to be concealed or removed,

with intent to defraud, hinder or delay its creditors, shall not at a fair valuation

be sufficient in amount to pay its debts; or (2) when the corporation is unable,

by its available assets or the honest use of credit, to pay its debts as they become

due; (g) “ property ” means real property, tangible and intangible personal property, and rights, claims

and franchises of every nature; (h) “ receiver ” means a receiver of a corporation appointed pursuant to this chapter, and includes

corporations authorized by law to act as receivers in this State, as well as individuals; (i) “ receivership action ” means an action brought pursuant to this chapter for the appointment of a receiver

of a corporation; (j) “ transfer ” means the sale and every other method, direct or indirect, of disposing of or parting

with property or with an interest therein, or with the possession thereof, or of fixing

a lien upon property or upon an interest therein, absolutely or conditionally, voluntarily

or involuntarily, by or without judicial proceedings, as a conveyance, sale, payment,

pledge, mortgage, lien, encumbrance, gift, security, or otherwise; the retention

of security title to property delivered to a corporation shall be deemed a transfer

suffered by such corporation.