SB144 Alabama 2016 Session

Updated Feb 24, 2026

Summary

Primary Sponsor: Cam Ward
Republican
Session: Regular Session 2016
Title: Fraudulent Transfer Act, make applicable to domestic settlements, Sec. 8-9A-1 am'd.
Summary: SB144 adds divorce and domestic settlement transfers to Alabama's Fraudulent Transfer Act and clarifies this is a declaratory change that does not alter existing law.
What This Bill Does
The bill expands the definition of 'transfer' to include transfers made under divorce or domestic settlements. It states that this act is declaratory of existing law and does not change substantive rules. It allows retroactive application to carry out legislative intent and becomes effective immediately after the governor's approval.

Who It Affects
Individuals and entities involved in divorce settlements or domestic settlements (debtors and creditors) whose asset transfers could be examined under the Fraudulent Transfer Act.
Courts, lawyers, and financial institutions that enforce or rely on the Fraudulent Transfer Act in reviews of settlement-related transfers.

Key Provisions
Amends Section 8-9A-1 to include divorce settlement or domestic settlement transfers within the definition of 'TRANSFER' under the Fraudulent Transfer Act, regardless of court approval status.
Declares that the act is declaratory of existing law and does not change existing law.
Provides that the act may be applied retroactively to carry out the Legislature's intent.
States the act becomes effective immediately upon its passage and approval by the Governor (or otherwise becoming law).

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Fraud