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AL SB78
Bill
AI Summary
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Circuit courts must establish a specific plan for distributing any residual funds remaining in class action common funds to the Department of Child Abuse and Neglect Prevention after all class member benefits are paid.
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Residual funds include amounts that remain 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 deadline.
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Parties may contract in settlement to revert residual funds to the paying party or other designated beneficiaries, and the circuit court retains authority to make such designations.
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Circuit courts may suspend the residual fund distribution requirement if they determine it substantially impedes settlement negotiations, provided parties have otherwise reached agreement on class action terms.
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The act 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
6/3/2015