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ND HB1135
Bill
Status
3/26/2015
Primary Sponsor
Judiciary Committee
Click for details
AI Summary
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Renames the Uniform Fraudulent Transfers Act to the Uniform Voidable Transactions Act throughout North Dakota Century Code Chapter 13-02.1
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Changes terminology from "fraudulent transfer" to "voidable transfer or obligation" while maintaining substantive legal standards for when creditors can challenge transfers
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Adds definitions for new terms including "electronic," "record," and "sign" to modernize the statute for electronic transactions and documentation
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Creates three new sections establishing governing law rules based on debtor location, application to series organizations, and clarifying the statute's relationship to federal electronic signatures law
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Applies prospectively to transfers and obligations made on or after the effective date; does not affect prior transfers or rights of action that accrued before enactment
Legislative Description
Renaming the Uniform Fraudulent Transfers Act the Uniform Voidable Transactions Act and making revisions; and to provide for application.
Last Action
Signed by Governor 03/25
3/26/2015