Tennessee § 66-3-306 - Transfers fraudulent as to present creditors.

§ 66-3-306. Transfers fraudulent as to present creditors.

A transfer made or obligation incurred by a debtor is fraudulent 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. A transfer made by a debtor is fraudulent 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. Acts 2003, ch. 42, § 1. Textbooks. Gibson's Suits in Chancery (7th ed., Inman), § 451. Tennessee Jurisprudence, 13 Tenn. Juris., Fraudulent and Voluntary Conveyances, § 3. Law Reviews. The Collection of Debts from Insolvent and Fully-Mortgaged Debtors (John A. Walker, Jr.), 43 Tenn. L. Rev. 399 (1976). Attorney General Opinions. Creditors' claims under the Tennessee Investment Services Act of 2007. OAG 11-79, 2011 Tenn. AG LEXIS 81 (11/17/11).