SB152 Alabama 2018 Session

Signed by Governor

Bill Summary

Sponsors

Rodger Smitherman

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.

To adopt the Alabama Uniform Voidable Transactions Act; to establish 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; and to specify that the act would apply to transactions that occur after January 1, 2019.

Subjects

Property, Real and Personal

Bill Actions

Action Date	Chamber	Action
February 27, 2018	S	Assigned Act No. 2018-163.
February 27, 2018	H	Signature Requested
February 27, 2018	S	Enrolled
February 22, 2018	H	Concurred in Second House Amendment
February 22, 2018	S	Smitherman motion to Concur In and Adopt adopted Roll Call 499
February 22, 2018	S	Concurrence Requested
February 20, 2018	H	Motion to Read a Third Time and Pass adopted Roll Call 399
February 20, 2018	H	Motion to Adopt adopted Roll Call 398
February 20, 2018	H	Judiciary Amendment Offered
February 20, 2018	H	Third Reading Passed
February 15, 2018	H	Read for the second time and placed on the calendar 1 amendment
February 6, 2018	H	Read for the first time and referred to the House of Representatives committee on Judiciary
February 6, 2018	S	Motion to Read a Third Time and Pass adopted Roll Call 295
February 6, 2018	S	Third Reading Passed
February 1, 2018	S	Read for the second time and placed on the calendar
January 11, 2018	S	Read for the first time and referred to the Senate committee on Banking and Insurance

Bill Text

Download SB152 Alabama 2018 Session PDF

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