Andy Vidak
- Republican
Author
The Uniform Fraudulent Transfer Act, based in part on the model Uniform Fraudulent Transfer Act, generally establishes the conditions under which a transfer made or obligation incurred by a debtor is fraudulent as to a creditor, and sets forth the remedies of a creditor with respect to a fraudulent transfer or obligation, including, but not limited to, voiding the transfer. The act defines terms for its purposes. This bill would rename the act the Uniform Voidable Transactions Act and would revise the act to adopt certain provisions proposed by the 2014 Uniform Voidable Transactions Act, which is based upon the Uniform Fraudulent Transfer Act, both of which were promulgated by the Uniform Law Commission. This bill would specify the burden of proof in making and defending a claim for relief and the basis for determining the governing law for a claim for relief under the act. This bill would modify definitions applicable to the act, would remove a definition of insolvency relating to a partnership debtor, and would add new definitions, including, but not limited to, definitions of "record" and "sign." This bill would replace the term "fraudulent" with the term "voidable," as specified. This bill would limit the applicability of the modifications to the act proposed by this bill to a right of action that accrued, transfer made, or obligation incurred on or after the effective date of this bill. This bill would revise cross-references to the act and would make conforming changes to related provisions.
Chaptered by Secretary of State. Chapter 44, Statutes of 2015.
Approved by the Governor.
Enrolled and presented to the Governor at 2:30 p.m.
In Senate. Ordered to engrossing and enrolling.
Read third time. Passed. (Ayes 77. Noes 0. Page 2090.) Ordered to the Senate.
Read second time. Ordered to consent calendar.
From committee: Do pass. Ordered to consent calendar. (Ayes 10. Noes 0.) (June 16).
Read third time. Passed. (Ayes 34. Noes 0. Page 842.) Ordered to the Assembly.
In Assembly. Read first time. Held at Desk.
Read second time. Ordered to consent calendar.
From committee: Do pass. Ordered to consent calendar. (Ayes 7. Noes 0. Page 727.) (April 21).
Set for hearing April 21.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on JUD.
April 14 set for first hearing canceled at the request of author.
Set for hearing April 14.
From printer. May be acted upon on or after March 6.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB161 | HTML |
| 02/03/15 - Introduced | |
| 04/14/15 - Amended Senate | |
| 06/23/15 - Enrolled | |
| 07/02/15 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
Data on Open States is updated periodically throughout the day from the official website of the California State Legislature.
If you notice any inconsistencies with these official sources, feel free to file an issue.