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AL HB558
Bill
Status
3/15/2012
Primary Sponsor
John Merrill
Click for details
AI Summary
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Circuit courts must establish a specific plan for distributing residual funds from Alabama class action settlements to the Department of Child Abuse and Neglect Prevention.
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Residual funds include amounts that remain undistributed because class members cannot be located, direct distribution is not economically feasible, or funds remain after the court-set claim period expires.
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Parties may contract to revert residual funds to the paying party or designated beneficiaries instead of the state department, without limitation.
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Circuit courts may suspend the residual fund distribution requirement if they determine it substantially impedes settlement negotiations.
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The act applies to all class actions filed on or after January 1, 2013, and becomes effective immediately upon passage and gubernatorial approval.
Legislative Description
Class action lawsuits filed in Alabama, plan for undistributed funds to be distributed to Child Abuse and Neglect Prevention Department if class members cannot be located, or if distribution to class is not economically feasible, or if class members do not make a claim to the class funds
Civil Procedure
Last Action
Indefinitely Postponed
5/9/2012