2005 Idaho Code - 55-911 — INSOLVENCY DEFINED

                                  TITLE  55
                             PROPERTY IN GENERAL
                                  CHAPTER 9
                              UNLAWFUL TRANSFERS
    55-911.  INSOLVENCY DEFINED. (1) 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.
    (2)  A debtor who is generally not paying his or her debts as they become
due is presumed to be insolvent.
    (3)  A partnership is insolvent under subsection (1) of this section 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.
    (4)  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 act.
    (5)  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.