Go to previous versions
of
this Section
Arkansas Code of 1987 (2023)
Title 4 - BUSINESS AND COMMERCIAL LAW (§§ 4-1-101 — 4-119-105)
Subtitle 5 - CONTRACTS, NOTES, AND OTHER COMMERCIAL INSTRUMENTS (§§ 4-56-101 — 4-60-103)
Chapter 59 - FRAUD (§§ 4-59-101 — 4-59-503)
Subchapter 2 - UNIFORM VOIDABLE TRANSACTIONS ACT (§§ 4-59-201 — 4-59-215)
Section 4-59-205 - Transfer or obligation voidable as to present creditor
Universal Citation:
AR Code § 4-59-205 (2023)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
- (a) A transfer made or obligation incurred by a debtor is voidable 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.
- (b) A transfer made by a debtor is voidable 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.
- (c) Except as provided under § 4-59-202(b), a creditor making a claim for relief under subsection (a) or subsection (b) of this section has the burden of proving the elements of the claim for relief by a preponderance of the evidence.
Amended by Act 2017, No. 1086,§ 1, eff. 8/1/2017.
Acts 1987, No. 967, § 5.
Disclaimer: These codes may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.