Indiana Uniform Voidable Transactions Act

The Senate Civil Law Committee heard Sen. Bray’s SB 316, amending the Indiana Uniform Voidable Transactions Act. This Act governs the ability of a creditor to nullify certain transfers made by a debtor and specifies that comments released by a committee of the National Conference of Commissioners on Uniform State Laws shall not be considered directly or indirectly as authority in interpreting the Act.

Sen. Bray introduced an amendment to clarify that only the comments to this Act should be disregarded, and the amendment was adopted by consent. Representatives from the Probate, Trust & Real Property Section of the Indiana State Bar Association, the Uniform Law Commission, and Indiana Bankers Association testified in support of the bill. The amended bill passed 6-0.

Read the bill at http://iga.in.gov/legislative/2017/bills/senate/316