Tennessee § 66-3-303 - Insolvency.
Full text of Tennessee Tennessee Code Annotated § 66-3-303 — Insolvency., with citation guidance and answers to common questions.
§ 66-3-303. Insolvency.
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. A debtor who is generally not paying such debtor's debts as they become due is presumed to be insolvent. A partnership is insolvent under subsection (a) if the sum of the partnership's debts is greater than the aggregate of all of the partnership's assets, at a fair valuation, and the sum of the excess of the value of each general partner's nonpartnership assets over the partner's nonpartnership debts. 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 part. 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. Acts 2003, ch. 42, § 1. Textbooks. Tennessee Jurisprudence, 13 Tenn. Juris., Fraudulent and Voluntary Conveyances, § 4.
Frequently Asked Questions About Tennessee § 66-3-303
What does Tennessee Code Annotated § 66-3-303 cover?
Section 66-3-303 ("Insolvency.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. 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 Tennessee § 66-3-303?
A common citation format is "Tennessee Code Annotated § 66-3-303" (Tennessee). 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 Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 66-3-303 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee 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 Tennessee.