C.R.S. § 38-8-103: Insolvency.

(1) 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.

(2) A debtor that is generally not paying their debts as they become due is presumed to be insolvent. The presumption imposes on the debtor the burden of proving that the nonexistence of insolvency is more probable than the existence of insolvency.

(3) A debtor that is insolvent as defined in 11 U.S.C. sec. 101 (32) of the federal bankruptcy code is insolvent.

(4) Assets under this section do not include property that has been 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 article.

(5) Debts under this section do not include an obligation to the extent it is secured by a valid lien on property of the debtor not included as an asset.