Mississippi Code
Miss. Code Ann. § 15-3-101 (2026)
Definitions
✓ current as of July 2026
The following words and phrases shall have the meanings ascribed herein, unless the context clearly indicates otherwise:
- (a) "Affiliate" means:
- (i) A person who directly or indirectly owns, controls or holds with power to vote, twenty percent (20%) or more of the outstanding voting securities of the debtor, other than a person who holds the securities,
- 1. As a fiduciary or agent without sole discretionary power to vote the securities; or
- 2. Solely to secure a debt, if the person has not exercised the power to vote;
- (ii) A corporation twenty percent (20%) or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor or a person who directly or indirectly owns, controls or holds with power to vote, twenty percent (20%) or more of the outstanding voting securities of the debtor, other than a person who holds the securities,
- 1. As a fiduciary or agent without sole power to vote the securities; or
- 2. Solely to secure a debt, if the person has not in fact exercised the power to vote;
- (iii) A person whose business is operated by the debtor under a lease or other agreement, or a person substantially all of whose assets are controlled by the debtor; or
- (iv) A person who operates the debtor's business under a lease or other agreement or controls substantially all of the debtor's assets.
- (i) A person who directly or indirectly owns, controls or holds with power to vote, twenty percent (20%) or more of the outstanding voting securities of the debtor, other than a person who holds the securities,
- (b) "Asset" means property of a debtor, but the term does not include:
- (i) Property to the extent it is encumbered by a valid lien;
- (ii) Property to the extent it is generally exempt under nonbankruptcy law; or
- (iii) An interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.
- (c) "Claim" means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured.
- (d) "Creditor" means a person who has a claim.
- (e) "Debt" means liability on a claim.
- (f) "Debtor" means a person who is liable on a claim.
- (g) "Insider" includes:
- (i) If the debtor is an individual,
- 1. A relative of the debtor or of a general partner of the debtor;
- 2. A partnership in which the debtor is a general partner;
- 3. A general partner in a partnership described in clause 2; or
- 4. A corporation of which the debtor is a director, officer or person in control;
- (ii) If the debtor is a corporation,
- 1. A director of the debtor;
- 2. An officer of the debtor;
- 3. A person in control of the debtor;
- 4. A partnership in which the debtor is a general partner;
- 5. A general partner in a partnership described in clause 4; or
- 6. A relative of a general partner, director, officer or person in control of the debtor;
- (iii) If the debtor is a partnership,
- 1. A general partner in the debtor;
- 2. A relative of a general partner in, or a general partner of, or a person in control of the debtor;
- 3. Another partnership in which the debtor is a general partner;
- 4. A general partner in a partnership described in clause 3; or
- 5. A person in control of the debtor;
- (iv) An affiliate, or an insider of an affiliate as if the affiliate were the debtor; and
- (v) A managing agent of the debtor.
- (i) If the debtor is an individual,
- (h) "Lien" means a charge against or an interest in property to secure payment of a debt or performance of an obligation, and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common-law lien, or a statutory lien.
- (i) "Person" means an individual, partnership, corporation, association, organization, government or governmental subdivision or agency, business trust, estate, trust or any other legal or commercial entity.
- (j) "Property" means anything that may be the subject of ownership.
- (k) "Relative" means an individual related by consanguinity within the third degree as determined by the common law, a spouse, or an individual related to a spouse within the third degree as so determined, and includes an individual in an adoptive relationship within the third degree.
- (l) "Transfer" means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease and creation of a lien or other encumbrance.
- (m) "Valid lien" means a lien that is effective against the holder of a judicial lien subsequently obtained by legal or equitable process or proceedings.
Laws, 2006, ch. 371, § 1, eff. 7/1/2006.
Notes of Decisions
Cited in 10
cases (5 in the last 5 years), 2004–2023 · leading case: Stanley v. Pilots of Gulfport, Inc., 951 So. 2d 535 (Miss. 2006).
Stanley v. Pilots of Gulfport, Inc., 951 So. 2d 535 (Miss. 2006). “[2] This statute has been replaced, effective July 1, 2006, by the Uniform Fraudulent Transfer Act, Miss.Code Ann. §§ 15-3-101 et seq. (Supp.”
In Re Gulfport Pilots Ass'n, Inc., 434 B.R. 380 (Bankr. S.D. Miss. 2010). “§ 15-3-3, repealed and replaced by Miss.Code Ann. §§ 15-3-101 et seq. (2006).”
Est. of Roby v. Roby, 84 So. 3d 786 (Miss. Ct. App. 2011). “" Miss.Code Ann. § 15-3-101(b)(iii) (Supp.2010).”
Carroll v. Carroll, 78 So. 3d 332 (Miss. Ct. App. 2010). “See Miss.Code Ann. § 15-3-101 to -121 (Rev.2003).”
Aldridge v. Cain (S.D. Miss. 2022). “Additionally, Defendants say Aldridge does not have a cause of action under the Mississippi Uniform Fraudulent Transfer Act, Miss. Code Ann. §15-3-101 et. seq., since the definitions of the terms “creditor” and “claim” are identical under the federal and state statutes.”
Curtis Dean Lofton Sr. v. Sharon Renae Lofton & Pentagon Fed. Credit Union (Miss. Ct. App. 2023). “” Miss. Code Ann. § 15-3-101 (d). In this case, Renae filed a separate divorce complaint on April 23, 2018, requesting equitable distribution, alimony, attorney’s fees and other relief.”
BankUnited, N.A. v. D & D Env't, Inc. (S.D. Miss. 2022). “Miss. Code Ann. §§ 15-3-101 . Under UFTA, “[a] transfer.”
Henderson v. Howse (Bankr. S.D. Miss. 2021). “See Miss. Code Ann. § 15-3-107 (2)(a)-(n). But Trustee cannot recover under MUFTA, because the statute’s definition of “asset” as “property of a debtor” excludes “[p]roperty to the extent it is generally exempt under nonbankruptcy law.”
Benny R. Knight, Sr. (Bankr. S.D. Miss. 2023). “”); see also Uniform Fraudulent Transfer Act, Miss. Code Ann. § 15-3-101 (b)(ii) (defining “asset” to exclude “[p]roperty to the extent it is generally exempt under nonbankruptcy law”).”
H.S. Stanley, Jr. v. Mississippi State Pilots of Gulfport, Inc. (Miss. 2004). “Moreover, this fact was repeatedly admitted at trial by all of the individual 2 This statute has been replaced, effective July 1, 2006, by the Uniform Fraudulent Transfer Act, Miss. Code Ann. §§ 15-3-101 et seq. (Supp.”
Miss. Code Ann. § 15-3-101(b)(iii): 1 case
Est. of Roby v. Roby, 84 So. 3d 786 (Miss. Ct. App. 2011). “" Miss.Code Ann. § 15-3-101(b)(iii) (Supp.2010).”
Miss. Code Ann. § 15-3-101(c): 1 case
Aldridge v. Cain (S.D. Miss. 2022). “Additionally, Defendants say Aldridge does not have a cause of action under the Mississippi Uniform Fraudulent Transfer Act, Miss. Code Ann. §15-3-101 et. seq., since the definitions of the terms “creditor” and “claim” are identical under the federal and state statutes.”
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