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ND HB1135

Bill

Status

Passed

3/26/2015

Primary Sponsor

Judiciary Committee

Click for details

Origin

House of Representatives

64th Legislative Assembly

AI Summary

  • Renames the Uniform Fraudulent Transfers Act to the Uniform Voidable Transactions Act throughout North Dakota Century Code Chapter 13-02.1

  • Changes terminology from "fraudulent transfer" to "voidable transfer or obligation" while maintaining substantive legal standards for when creditors can challenge transfers

  • Adds definitions for new terms including "electronic," "record," and "sign" to modernize the statute for electronic transactions and documentation

  • 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

  • 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

Committee Referrals

Judiciary1/6/2015

Full Bill Text

No bill text available