Pennsylvania § 5102 - Insolvency.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 5102 — Insolvency., with citation guidance and answers to common questions.
§ 5102. Insolvency.
(a) General rule.--A debtor is insolvent if, at fair valuation, the sum of the debtor's debts is greater than the sum of the debtor's assets.
(b) Presumption of insolvency.--A debtor that 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. The 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) Exclusion of certain assets.--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 chapter.
(d) Exclusion of certain debts.--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.
(e) Exclusion of certain debts.--((e) relettered to (d)).
(Dec. 22, 2017, P.L.1249, No.78, eff. 60 days)
2017 Amendment. See section 7 of Act 78 in the appendix to this title for special provisions relating to applicability.
Cross References. Section 5102 is referred to in section 5105 of this title.
Frequently Asked Questions About Pennsylvania § 5102
What does Pennsylvania Consolidated Statutes § 5102 cover?
Section 5102 ("Insolvency.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 5102?
A common citation format is "Pennsylvania Consolidated Statutes § 5102" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 5102 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.