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AL SB8
Bill
AI Summary
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Circuit courts must establish a specific plan for distributing residual funds from Alabama class action common funds to the Department of Child Abuse and Neglect Prevention.
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Residual funds include those remaining undistributed because class members cannot be located, direct distribution is not economically feasible, class members fail to claim funds, or funds remain after the court-established time period expires.
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Parties may contract in settlement to revert residual funds to the paying party or other designated beneficiaries without restriction.
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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 cases filed on or after January 1, 2014, and becomes effective immediately upon passage and 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
5/7/2013