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Uniform Voidable Transactions Act Becomes Law in California

Dave Barton and Gabriel Glazer instrumental in passage of bill

July 24, 2015

From the State Bar of California Business Law Section Commercial Transactions e-Bulletin:

On July 2, 2015, Governor Brown signed SB 161 (the Uniform Voidable Transactions Act) into law, after the bill received unanimous approval in the Senate and Assembly. The new law was enacted as recommended by the Commercial Transactions Committee in its detailed Statement of Position to the California Commission on Uniform State Laws. Committee members Gabriel Glazer, David Barton and Paul Barkes were the principal authors of the Statement. The new law amends and renames the existing Uniform Fraudulent Transfer Act (California Civil Code sections 3439 and following). The Legislative Counsel of California, Diane Boyer-Vine, thanked the Committee for its efforts and stated that without the Committee’s report, recommendations and input during the legislative process, the work of the Office of Legislative Counsel would have been much more difficult. 

For details, see SB 161 (available at http://www.leginfo.ca.gov/pub/15-16/bill/sen/sb_0151-0200/sb_161_bill_20150623_enrolled.htm)