AL SB144

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

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

Declares the amendment to be clarifying language that is declaratory of existing law and does not constitute a substantive change to current law.

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

Becomes effective immediately upon passage and approval by the Governor.