R.I. Gen. Laws § 6-16-2
This is the official text of R.I. Gen. Laws § 6-16-2, part of Rhode Island’s Gen. Laws — part of the compiled statutory law of Rhode Island, published by the state as "Gen. Laws." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 6-16-2. Insolvency.
Official statutory text
(a) A debtor is insolvent if, at a fair valuation, the sum of the debtors debts is greater than the sum of the debtors assets.
(b) A debtor who is generally not paying the debtors 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 whom the presumption is directed the burden of proving that the nonexistence of insolvency is more probable than its existence.
(c) 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 have been transferred in a manner making the transfer voidable under this chapter.
(d) Debts under this section do not include obligations to the extent they are secured by a valid lien on property of the debtor not included as an asset.
(b) A debtor who is generally not paying the debtors 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 whom the presumption is directed the burden of proving that the nonexistence of insolvency is more probable than its existence.
(c) 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 have been transferred in a manner making the transfer voidable under this chapter.
(d) Debts under this section do not include obligations to the extent they are 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
Need a lawyer in Rhode Island?
Find a Rhode Island lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.