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 Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
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.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Businesses & Financial Institutions
Sponsors
Sponsors by party (alphabetical): Republican 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Sam Givhan | Primary sponsor | Republican | Senate | 7 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Enacted
- Ready to Enroll
- Enrolled
- Delivered to Governor
- Signature Requested
- Third Reading in Second House
- Motion to Read a Third Time and Pass - Adopted Roll Call 1237
- Reported Out of Committee Second House
- Read for the Second Time and placed on the Calendar (Financial Services)
- Read for the first time and referred to the House Committee on Financial Services
- Pending Committee Action in Second House (Financial Services)
- Engrossed
Showing 12 most recent of 22 actions. Full history