Substituted for: House Bill No. 3128

By Stamps

AN ACT To amend Tennessee Code Annotated, Title 66, Chapter 3, relative to fraudulent conveyances and devises.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:

SECTION 1. Tennessee Code Annotated, Title 66, Chapter 3, Part 3Error! Bookmark not defined., is amended by adding the following as a new section thereto:

Section ___. Any conveyance made to the spouse of a person who is or will be rendered insolvent creates a rebuttable presumption of fraud as to creditors, if the conveyance is made as consideration for a transaction conducted by such person; provided, however, that the validity of the title to property conveyed pursuant to such conveyance shall not be affected thereby.

SECTION 2. This act shall take effect upon becoming a law, the public welfare requiring it.