§ 3302. Insolvency

• (a) Except as provided in subsection (c), 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 debts as they become due is presumed to be insolvent.
• (c) A partnership is insolvent under subsection (a) if the sum of the partnership’s debts is greater than the aggregate, at a fair valuation, of—
  • (1) all of the partnership’s assets; and
  • (2) the sum of the excess of the value of each general partner’s non-partnership assets over the partner’s non-partnership debts.
• (d) For purposes of this section, assets do not include property that is transferred, concealed, or removed with intent to hinder, delay, or defraud creditors or that has been transferred in a manner making the transfer voidable under this subchapter.
• (e) For purposes of this section, debts do not include an obligation to the extent such obligation is secured by a valid lien on property of the debtor not included as an asset.