Currently, benefits provided pursuant to a qualified trust may not be assigned and are exempt from certain federal bankruptcy or insolvency laws.
This bill would further define qualified trusts to include trusts formed as part of certain qualified pension plans, qualified stock bonus plans, and profit sharing plans.
Delivered to Governor at 10:13 a.m. on May 11, 2017.
Assigned Act No. 2017-317 on 05/18/2017.
Clerk of the House Certification
Signature Requested
Enrolled
Passed Second House
Motion to Read a Third Time and Pass adopted Roll Call 958
Third Reading Passed
Read for the second time and placed on the calendar
Read for the first time and referred to the Senate committee on Banking and Insurance
Motion to Read a Third Time and Pass adopted Roll Call 561
Third Reading Passed
Read for the second time and placed on the calendar
Read for the first time and referred to the House of Representatives committee on Financial Services
Source: Alabama Legislature