SB196 Alabama 2015 Session

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

To enact the Alabama Uniform Asset-Preservation Orders Act; to provide procedures in civil actions for the court to issue asset-preservation orders against parties and nonparties to the civil action under certain conditions.