SB196 Alabama 2015 Session

Updated Jul 24, 2021

Summary

Primary Sponsor: Rodger SmithermanSenator
Democrat
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.
Subjects: Civil Procedure