Section 629. Certain transfers or assignments by shareholders or subscribers; effect

Any transfer or assignment by a shareholder of his  shares,  or  by  a
  subscriber  for  shares  of  his  interest in the corporation, shall not
  relieve him of any liability as a shareholder or subscriber  if  at  the
  time  of  such transfer or assignment the aggregate of the corporation's
  property,  exclusive  of  any  property  which  it  may  have  conveyed,
  transferred,  concealed,  removed,  or  permitted  to  be  concealed  or
  removed, with intent to defraud, hinder or delay its creditors,  is  not
  at  a  fair  valuation sufficient in amount to pay its debts, or if such
  condition is imminent.