Mont. Code Ann. § 31-2-334

Transfers fraudulent as to present creditors

Known as the Uniform Fraudulent Transfer Act

The act spans §§ 31–31 (31 sections).

Applied in 1 court decision — leading case Magten Asset Management Corp. v. Northwestern Corp. (In Re Northwestern Corp.) (2004)

Most recently applied in Magten Asset Management Corp. v. Northwestern Corp. (In Re Northwestern Corp.) (August 2004)

(1) A transfer made or obligation incurred by a debtor is fraudulent 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.

(2) A transfer made by a debtor is fraudulent 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.

Official source: Montana Code Annotated (Montana Legislature). Reproduced from public-domain Montana statutes; confirm against the official source for the current text. Not legal advice.