Examples of UFTA in a sentence
For purposes of this Section 4.17, "Bankruptcy Code" means Title 11 of the United States Code, "UFTA" means the Uniform Fraudulent Transfer Act, "UFCA" means the Uniform Fraudulent Conveyance Act, and "Other Applicable Law" means any other applicable state law pertaining to fraudulent transfers or acts voidable by creditors, in each case as such law may be amended from time to time.
For purposes of this Section 4.17, "Bankruptcy Code" means Title 11 of the United States Code, "UFTA" means the Uniform Fraudulent Transfer Act, "UFCA" means the Uniform Fraudulent Conveyance Act, and "Other Applicable Law" means any other applicable law pertaining to fraudulent transfers or acts voidable by creditors, in each case as such law may be amended from time to time.
Under the UFTA and the bankruptcy code, liabilities must be discounted from their face value to reflect the probability that they will mature and accrue.
This distinction between what types of creditors are protected under the UFTA is easier to grasp by trying to visualize the faces of one’s creditors.
The UFTA is contained in the California Civil Code (“CCC”) Sections 3439-3439.12.