Motion to Read a Third Time and Pass
Yes
25
Absent
10
SB424 Alabama 2011 Session
Updated Jul 26, 2021
Summary
- Primary Sponsor
Tammy IronsDemocrat- Session
- Regular Session 2011
- Title
- Retirement accounts, Uniform Probate Code, Roth Individual Retirement Accounts, included as qualified trust for purposes of limitation on assignment and alienation, Sec. 19-3B-508 am'd.
- Description
Under existing law, the Uniform Probate Code provides that a qualified trust may not be assigned or alienated, voluntarily or involuntarily, and is exempt from any bankruptcy or insolvency laws. A qualified trust includes as an Individual Retirement Account (IRA), but does not include a Roth IRA.
This bill would include a Roth IRA under Section 408A of the Internal Revenue Code as a qualified trust under this law.
- Subjects
- Property, Real and Personal
Bill Actions
Pending third reading on day 28 Favorable from Financial Services
Read for the second time and placed on the calendar
Read for the first time and referred to the House of Representatives committee on Financial Services
Motion to Read a Third Time and Pass adopted Roll Call 743
Third Reading Passed
Read for the second time and placed on the calendar
Read for the first time and referred to the Senate committee on Judiciary
Bill Text
Votes
Documents
Source: Alabama Legislature