Texas § BC.24.003 - INSOLVENCY
Full text of Texas The Texas Constitution § BC.24.003 — INSOLVENCY, with citation guidance and answers to common questions.
§ BC.24.003. INSOLVENCY
INSOLVENCY. (a) 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) A debtor who is generally not paying the debtor's debts as they become due is presumed to be insolvent. (c) Repealed by Acts 2013, 83rd Leg., R.S., Ch. 9, Sec. 11, eff. September 1, 2013. (d) 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. (e) 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. Amended by Acts 1987, 70th Leg., ch. 1004, Sec. 1, eff. Sept. 1, 1987; Acts 1993, 73rd Leg., ch. 570, Sec. 8, eff. Sept. 1, 1993. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 9 (S.B. 847 ), Sec. 11, eff. September 1, 2013.
Frequently Asked Questions About Texas § BC.24.003
What does The Texas Constitution § BC.24.003 cover?
Section BC.24.003 ("INSOLVENCY") is part of the The Texas Constitution, the codified statutory law of Texas. 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 Texas § BC.24.003?
A common citation format is "The Texas Constitution § BC.24.003" (Texas). 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 Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § BC.24.003 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas 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 Texas.