Wisconsin § 242.02 - Insolvency.
Full text of Wisconsin Wisconsin Statutes § 242.02 — Insolvency., with citation guidance and answers to common questions.
§ 242.02. Insolvency.
242.02(1) (1) In this section: 242.02(1)(a) (a) “Assets” 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. 242.02(1)(b) (b) “Debts” 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. 242.02(2) (2) A debtor is insolvent if, at a fair valuation, the sum of the debtor’s debts is greater than the sum of the debtor’s assets. 242.02(3) (3) A debtor who 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. 242.02 History History: 1987 a. 192 ; 2023 a. 246 .
Frequently Asked Questions About Wisconsin § 242.02
What does Wisconsin Statutes § 242.02 cover?
Section 242.02 ("Insolvency.") is part of the Wisconsin Statutes, the codified statutory law of Wisconsin. 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 Wisconsin § 242.02?
A common citation format is "Wisconsin Statutes § 242.02" (Wisconsin). 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 Wisconsin law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Wisconsin official source linked on this page or consult a licensed Wisconsin attorney.
How does Wisconsin § 242.02 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Wisconsin 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 Wisconsin.