Qualified affidavit requirements

A qualified affidavit shall state that: (1) The transferor has full right, title, and authority to transfer the assets to the trust; (2) The transfer of the assets to the trust will not render the transferor insolvent; (3) The transferor does not intend to defraud a creditor by transferring the assets to the trust; (4) The transferor does not have any pending or threatened court actions against the transferor, except for those court actions identified by the transferor on an attachment to the affidavit; (5) The transferor is not involved in any administrative proceedings, except for those administrative proceedings identified on an attachment to the affidavit; (6) The transferor does not contemplate filing for relief under the federal bankruptcy code; and (7) The assets being transferred to the trust were not derived from unlawful activities. Acts 2007, ch. 144, § 3. A qualified affidavit shall state that: (1) The transferor has full right, title, and authority to transfer the assets to the trust; (2) The transfer of the assets to the trust will not render the transferor insolvent; (3) The transferor does not intend to defraud a creditor by transferring the assets to the trust; (4) The transferor does not have any pending or threatened court actions against the transferor, except for those court actions identified by the transferor on an attachment to the affidavit; (5) The transferor is not involved in any administrative proceedings, except for those administrative proceedings identified on an attachment to the affidavit; (6) The transferor does not contemplate filing for relief under the federal bankruptcy code; and (7) The assets being transferred to the trust were not derived from unlawful activities. Acts 2007, ch. 144, § 3.