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§ 91-9-705. Qualified affidavit; contents

MS Code § 91-9-705 (2019) (N/A)
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(a) The transferor has full right, title, and authority to transfer the assets to the trust;

(b) The transfer of the assets to the trust will not render the transferor insolvent;

(c) The transferor does not intend to defraud a creditor by transferring the assets to the trust;

(d) 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;

(e) The transferor is not involved in any administrative proceedings, except for those administrative proceedings identified on an attachment to the affidavit;

(f) The transferor does not contemplate filing for relief under the provisions of the federal bankruptcy code;

(g) The assets being transferred to the trust were not derived from unlawful activities; and

(h) The transferor is a named insured of a general liability insurance policy and, if applicable, a professional liability insurance policy, with policy limits of at least One Million Dollars ($1,000,000.00) for each respective policy.

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§ 91-9-707. Claims or actions against property subject to qualified disposition; claims or actions against trustees