Session Law 2015-23: Senate Bill 123

• Amends Article 3A of Chapter 39 of the General Statutes to adopt the Uniform Law Commission's 2014 amendments to the Uniform Fraudulent Transfer Act, renaming it the Uniform Voidable Transactions Act.

• Adds new definitions including "Electronic," "Organization," "Record," and "Sign" to align with modern electronic transactions and record-keeping practices.

• Revises provisions related to insolvency determinations, removing partnership-specific insolvency language and adding presumptions of insolvency for debtors not paying debts as they become due.

• Adds two new sections: G.S. 39-23.9A establishing governing law based on debtor location and G.S. 39-23.9B applying the act to series organizations with protected series arrangements.

• Becomes effective October 1, 2015, and applies only to transfers made or obligations incurred on or after that date; includes conforming amendments to child support and alimony provisions in Chapter 50.