1. (a) A transfer made or an 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:

   1. (1) the debtor made the transfer or incurred the obligation without receiving a reasonably equivalent value in exchange for the transfer or obligation; and

   2. (2) the debtor:

      1. (A) was insolvent at that time; or
      2. (B) became insolvent as a result of the transfer or obligation.

2. (b) Subject to section 12(d) of this chapter, a creditor making a claim for relief under this section has the burden of proving the elements of the claim for relief by a preponderance of the evidence.

   [Pre-2002 Recodification Citation: 32-2-7-15.]

As added by P.L.2-2002, SEC.3. Amended by P.L.61-2017, SEC.14.