(a) If a conveyance or obligation is fraudulent as to a creditor whose claim has matured, the creditor, as against any person except a purchaser for fair consideration without knowledge of the fraud at the time of the purchase or one who has derived title immediately or immediately from such a purchaser, may:
- (1) Have the conveyance set aside or obligation annulled to the extent necessary to satisfy the claim; or
- (2) Levy on or garnish the property conveyed as if the conveyance were not made.
- (b) In an action to have a conveyance set aside or an obligation annulled, it is not necessary as a condition to the granting of relief that the creditor first obtain judgment on the claim.
- (c) A purchaser who without actual fraudulent intent has given less than a fair consideration for the conveyance or obligation may retain the property or obligation as security for repayment.
Added by Acts 1975, c. 49, § 3, eff. July 1, 1975. Amended by Acts 1987, c. 623.
Formerly Art. 39B, § 9.