HB94 Alabama 2012 Session
Signed by Governor
Bill Summary
Sponsors
Session
Regular Session 2012
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
To amend Section 19-3B-508 of the Code of Alabama 1975, relating to qualified trusts under the Internal Revenue Code which may not be assigned or alienated, to include Roth Individual Retirement Accounts as a qualified trust.
Subjects
Property, Real and Personal
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 9, 2012 | Delivered to Governor at 11:45 a. m. on May 9, 2012. | |
| May 9, 2012 | Assigned Act No. 2012-381. | |
| May 9, 2012 | Clerk of the House Certification | |
| May 9, 2012 | Signature Requested | |
| May 8, 2012 | Enrolled | |
| May 8, 2012 | Passed Second House | |
| May 8, 2012 | Motion to Read a Third Time and Pass adopted Roll Call 1135 | |
| May 8, 2012 | Third Reading Passed | |
| April 5, 2012 | Read for the second time and placed on the calendar | |
| March 15, 2012 | Read for the first time and referred to the Senate committee on Governmental Affairs | |
| March 1, 2012 | Motion to Read a Third Time and Pass adopted Roll Call 188 | |
| February 8, 2012 | Read for the second time and placed on the calendar | |
| March 1, 2012 | Third Reading Passed | |
| February 7, 2012 | Read for the first time and referred to the House of Representatives committee on Financial Services |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB94 Alabama 2012 Session - Enrolled |
| Bill Text | HB94 Alabama 2012 Session - Introduced |