Okla. Stat. tit. 24, § 24-114
This is the official text of Okla. Stat. tit. 24, § 24-114, part of Oklahoma’s Stat. tit. 24, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 24,." Browse the sections below, each linked to its official government source.
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Tests for determining insolvency
Official statutory text
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 his debts as they
become due is presumed to be insolvent.
C. A partnership is insolvent pursuant to the provisions of
subsection A of this section if the sum of the partnership's debts
is greater than the aggregate, at a fair valuation, of all of the
partnership's assets and the sum of the excess of the value of each
general partner's nonpartnership assets over the partner's
nonpartnership debts.
D. Assets pursuant to the provisions of 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 pursuant to the
provisions of the Uniform Fraudulent Transfer Act.
E. Debts pursuant to the provisions of 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.
greater than all of the debtor's assets at a fair valuation.
B. A debtor who is generally not paying his debts as they
become due is presumed to be insolvent.
C. A partnership is insolvent pursuant to the provisions of
subsection A of this section if the sum of the partnership's debts
is greater than the aggregate, at a fair valuation, of all of the
partnership's assets and the sum of the excess of the value of each
general partner's nonpartnership assets over the partner's
nonpartnership debts.
D. Assets pursuant to the provisions of 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 pursuant to the
provisions of the Uniform Fraudulent Transfer Act.
E. Debts pursuant to the provisions of 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.
Status: in_force · Read it on the official government site
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