Alabama · 2026 Regular Session · Bill

SB 15: Uniform Assignment for Benefit of Creditors Act; creates a voluntary state law process for distressed organizations to liquidate assets and distribute proceeds to creditors

Enacted Last action April 17, 2026: Enacted

Plain-language summary

SB 15 is a bill introduced in the Alabama Senate on August 20, 2025. According to its official title, it concerns: Uniform Assignment for Benefit of Creditors Act; creates a voluntary state law process for distressed organizations to liquidate assets and distribute proceeds to creditors. Primary sponsor: Sam Givhan (Republican). Most recent recorded action (April 17, 2026): Enacted.

Sponsors

Primary sponsor: Sam Givhan (Republican).