senate Bill S7687A

2015-2016 Legislative Session

Relates to enacting the uniform voidable transactions act; repealer

download bill text pdf

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Archive: Last Bill Status - In Senate Committee Judiciary Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (3)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 01, 2016 print number 7687a
Jun 01, 2016 amend (t) and recommit to judiciary
May 12, 2016 referred to judiciary

S7687 - Details

Current Committee:
Senate Judiciary
Law Section:
Debtor and Creditor Law
Laws Affected:
Rpld & add Art 10 §§270 - 281-a, D & C L; amd §§5205 & 5519, CPLR; amd §7-3.1, EPT L; amd §50, Work Comp L
Versions Introduced in Other Legislative Sessions:
2017-2018: S6180
2019-2020: S4236

S7687 - Summary

Enacts the uniform voidable transactions act and repeals provisions relating to fraudulent conveyances.

S7687 - Sponsor Memo

S7687 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7687

                            I N  S E N A T E

                              May 12, 2016
                               ___________

Introduced  by  Sen.  FARLEY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Judiciary

AN ACT to amend the debtor and creditor law, in relation to enacting the
  uniform voidable transactions act; and to repeal  provisions  of  such
  law relating to fraudulent conveyances

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Short title. This act shall be known and may  be  cited  as
the "Uniform Voidable Transactions Act."
  S  2.  Article 10 of the debtor and creditor law is REPEALED and a new
article 10 is added to read as follows:
                               ARTICLE 10
                    UNIFORM VOIDABLE TRANSACTIONS ACT
SECTION 270.   DEFINITIONS.
        271.   INSOLVENCY.
        272.   VALUE.
        273.   TRANSFER OR OBLIGATION VOIDABLE AS TO PRESENT  OR  FUTURE
                 CREDITOR.
        274.   TRANSFER OR OBLIGATION VOIDABLE AS TO PRESENT CREDITOR.
        275.   WHEN TRANSFER IS MADE OR OBLIGATION IS INCURRED.
        276.   REMEDIES OF CREDITOR.
        277.   DEFENSES,  LIABILITY,  AND  PROTECTION  OF  TRANSFEREE OR
                 OBLIGEE.
        278.   EXTINGUISHMENT OF CLAIM FOR RELIEF.
        279.   GOVERNING LAW.
        280.   APPLICATION TO SERIES ORGANIZATION.
        281.   SUPPLEMENTARY PROVISIONS.
        281-A. UNIFORMITY OF APPLICATION AND CONSTRUCTION.
        281-B. RELATION TO ELECTRONIC SIGNATURES IN GLOBAL AND  NATIONAL
                 COMMERCE ACT.
  S 270. DEFINITIONS. AS USED IN THIS ARTICLE:
  (A) "AFFILIATE" MEANS:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15425-01-6

S7687A (ACTIVE) - Details

Current Committee:
Senate Judiciary
Law Section:
Debtor and Creditor Law
Laws Affected:
Rpld & add Art 10 §§270 - 281-a, D & C L; amd §§5205 & 5519, CPLR; amd §7-3.1, EPT L; amd §50, Work Comp L
Versions Introduced in Other Legislative Sessions:
2017-2018: S6180
2019-2020: S4236

S7687A (ACTIVE) - Summary

Enacts the uniform voidable transactions act and repeals provisions relating to fraudulent conveyances.

S7687A (ACTIVE) - Sponsor Memo

S7687A (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 7687--A

                            I N  S E N A T E

                              May 12, 2016
                               ___________

Introduced  by  Sen.  FARLEY -- read twice and ordered printed, and when
  printed to be committed to the Committee  on  Judiciary  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN  ACT to amend the debtor and creditor law, the civil practice law and
  rules, the estates, powers and trusts law, and  the  workers'  compen-
  sation  law, in relation to enacting the uniform voidable transactions
  act; and to repeal provisions of the debtor and creditor law  relating
  to fraudulent conveyances

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Short title. This act shall be known and may  be  cited  as
the "Uniform Voidable Transactions Act."
  S  2.  Article 10 of the debtor and creditor law is REPEALED and a new
article 10 is added to read as follows:
                               ARTICLE 10
                    UNIFORM VOIDABLE TRANSACTIONS ACT
SECTION 270.   DEFINITIONS.
        271.   INSOLVENCY.
        272.   VALUE.
        273.   TRANSFER OR OBLIGATION VOIDABLE AS TO PRESENT  OR  FUTURE
                 CREDITOR.
        274.   TRANSFER OR OBLIGATION VOIDABLE AS TO PRESENT CREDITOR.
        275.   WHEN TRANSFER IS MADE OR OBLIGATION IS INCURRED.
        276.   REMEDIES OF CREDITOR.
        277.   DEFENSES,  LIABILITY,  AND  PROTECTION  OF  TRANSFEREE OR
                 OBLIGEE.
        278.   EXTINGUISHMENT OF CLAIM FOR RELIEF.
        279.   GOVERNING LAW.
        280.   SUPPLEMENTARY PROVISIONS.
        281. UNIFORMITY OF APPLICATION AND CONSTRUCTION.
        281-A. RELATION TO ELECTRONIC SIGNATURES IN GLOBAL AND  NATIONAL
                 COMMERCE ACT.
  S 270. DEFINITIONS. AS USED IN THIS ARTICLE:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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