Code of Alabama - Title 8: Commercial Law and Consumer Protection - Chapter 9B - Alabama Uniform Voidable Transactions Act

• Section 8-9B-1 Short title
  This chapter may be cited as the Alabama Uniform Voidable Transactions Act.
• Section 8-9B-2 Definitions
  As used in this chapter: (1) "Affiliate" means: (i) a person that directly or indirectly owns, controls, or holds with power to vote, 20 percent...
• Section 8-9B-3 Insolvency
  (a) A debtor is insolvent if the sum of the debtor’s debts at a fair valuation is greater than the sum of the debtor’s assets...
• Section 8-9B-4 Value
  (a) Value is given for a transfer if, in exchange for the transfer, property is transferred or an antecedent debt is secured or satisfied, but...
• Section 8-9B-5 Transfer voidable as to present or future creditor
  (a) A transfer made by a debtor is voidable as to a creditor, whether the creditor’s claim arose before or after the transfer was made,...
• Section 8-9B-6 Transfer voidable as to present creditor
  (a) A transfer made by a debtor is voidable as to a creditor whose claim arose before the transfer was made if the debtor made...
• Section 8-9B-7 When transfer is made
  For the purposes of this chapter: (1) a transfer is made: (i) with respect to an asset that is real property other than a fixture,...
• Section 8-9B-8 Remedies of creditor
  (a) In an action for relief against a transfer under this chapter, a creditor, subject to the limitations in Section 8-9B-9, may obtain: (1) avoidance of...
• Section 8-9B-9 Defenses, liability, and protection of transferee
  (a) A transfer is not voidable under Section 8-9B-5(a)(1) against a person that took in good faith and for a reasonably equivalent value given the debtor...
• Section 8-9B-10 Extinguishment of claim for relief
  A claim for relief with respect to a transfer under this chapter is extinguished unless action is brought: (a) under Section 8-9B-5(a)(1), within ten years after...
• Section 8-9B-11 Governing law
  (a) In this section, the following rules determine a debtor's location: (1) A debtor who is an individual is located at the individual's principal residence....
• Section 8-9B-12 Application to series organization
  (a) In this section: (1) "Series" means an arrangement, however denominated, created by a series organization that, pursuant to the law under which the series...
• Section 8-9B-13 Supplementary provisions
  Unless displaced by the provisions of this chapter, the principles of law and equity, including the law merchant and the law relating to principal and...
• Section 8-9B-14 Uniformity of application and construction
  This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter...
• Section 8-9B-15 Relation to electronic Signatures in Global and National Commerce Act
  This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify,...
• Section 8-9B-16 Application; conforming amendments
  This chapter applies to transfers made on or after January 1, 2019, and does not apply to a transfer made before January 1, 2019. The...

Last modified: May 3, 2021