SB196 Summary

• Enacts the Alabama Uniform Asset-Preservation Orders Act to create procedures for issuing asset-preservation orders in civil actions seeking monetary damages.

• Allows courts to issue asset-preservation orders either with notice and expedited hearing or without notice (expiring within 10 days unless extended) upon finding substantial likelihood of prevailing on merits and risk of asset dissipation.

• Permits orders to bind nonparties such as banks, requiring them to prevent asset dissipation while allowing nonparties to move for dissolution or modification on expedited basis.

• Excludes actions against individuals for consumer debt and family law matters from the act's application.

• Establishes procedures for recognizing asset-preservation orders from other states and foreign courts, requires security/indemnity for costs and damages, and makes orders enforceable with full faith and credit like judgments.