HB181 Alabama 2018 Session

Updated Apr 26, 2021

Summary

Primary Sponsor: Matt Fridy
Republican
Session: Regular Session 2018
Title: Alabama Uniform Voidable Transfers Act, adopted, creditors, procedures to reach assets transferred to prevent seizure established, Secs. 8-9B-1 to 8-9B-17, inclusive, added
Description: Under existing law, Alabama has adopted the Uniform Fraudulent Transfers Act (UFTA). Under existing law, the UFTA establishes procedures by which a creditor may reach assets a debtor has transferred to another person in order to prevent the assets from being used to settle a debt.
This bill would adopt the Uniform Voidable Transfers Act to replace the UFTA for transactions occurring after January 1, 2019. This bill would establish an updated procedure by which a creditor may reach assets a debtor has transferred to another person in order to prevent the assets from being used to settle a debt.
Subjects: Property, Real and Personal

Pending third reading on day 7 Favorable from Judiciary

Read for the second time and placed on the calendar

Read for the first time and referred to the House of Representatives committee on Judiciary