AL HB113

Amends Alabama Code Section 8-9A-1 to include transfers made pursuant to divorce settlements or domestic settlements within the definition of "transfer" under the Alabama Fraudulent Transfer Act.

Specifies that transfers covered include those made through divorce or domestic settlements regardless of whether the settlement or its terms are approved by a court or incorporated into a court order, judgment, or decree.

Declares that this amendment is clarificatory of existing law and does not constitute a change in existing law.

Applies retroactively to the extent necessary to carry out the legislative intent.

Becomes effective immediately upon passage and approval by the Governor.