HB269 Alabama 2015 Session

Summary

Primary Sponsor

David Faulkner Representative

Republican

Session

Regular Session 2015

Title

Civil actions, Uniform Asset-Preservation Orders Act enacted, procedure for court orders to preserve assets of parties including order to nonparties

Description

Under current law, the primary remedy against asset dissipation has traditionally been an "in rem" order prohibiting the transfer of specific assets. Such prejudgment attachments are based in equity and require particularized showings of fraud.

This bill would enact the Alabama Uniform Asset-Preservation Orders Act. The bill would create a process for the issuance of asset preservation orders, which are in personam orders that prevent the dissipation of assets of parties to a civil action and imposing collateral restraint on nonparties such as the party's bank, in order to preserve assets from dissipation, pending judgment.

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Subjects

Civil Procedure