§ 15-209. Rights of creditor whose claim has matured

   (a) Setting aside conveyance; levy on or garnishment of property conveyed. -- If a conveyance or obligation is fraudulent as to a creditor whose claim has matured, the creditor, as against any person except a purchaser for fair consideration without knowledge of the fraud at the time of the purchase or one who has derived title immediately or immediately from such a purchaser, may:

   (1) Have the conveyance set aside or obligation annulled to the extent necessary to satisfy the claim; or

   (2) Levy on or garnish the property conveyed as if the conveyance were not made.

(b) Prior judgment not required. -- In an action to have a conveyance set aside or an obligation annulled, it is not necessary as a condition to the granting of relief that the creditor first obtain judgment on the claim.

(c) Retention of property as security. -- A purchaser who without actual fraudulent intent has given less than a fair consideration for the conveyance or obligation may retain the property or obligation as security for repayment.

HISTORY: An. Code 1957, art. 39B, § 9; 1975, ch. 49, § 3; 1987, ch. 623.