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AB-513 The Uniform Voidable Transactions Act.(2019-2020)

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Date Published: 02/13/2019 09:00 PM
AB513:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Assembly Bill
No. 513

Introduced by Assembly Member Gallagher

February 13, 2019

An act to amend Section 3439.10 of the Civil Code, relating to civil law.


LEGISLATIVE COUNSEL'S DIGEST


AB 513, as introduced, Gallagher. The Uniform Voidable Transactions Act.
Existing law, the Uniform Voidable Transactions Act, generally establishes the conditions under which a transfer made or obligation incurred by a debtor is voidable as to a creditor, and sets forth the remedies of a creditor with respect to a voidable transfer or obligation. Existing law specifies that a claim under the act is governed by the local law of the jurisdiction in which the debtor is located when the transfer is made or the obligation is incurred. Existing law specifies, for purposes of these provisions, that a debtor’s location, if the debtor is an individual, is located at the individual’s principal residence.
This bill would instead provide that a debtor’s location, if the debtor is an individual, is the debtor’s principal residence or domicile.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 3439.10 of the Civil Code is amended to read:

3439.10.
 (a) In this section, the following rules determine a debtor’s location:
(1) A debtor who is an individual is located at the individual’s principal residence. residence or domicile.
(2) A debtor that is an organization and has only one place of business is located at its place of business.
(3) A debtor that is an organization and has more than one place of business is located at its chief executive office.
(b) A claim in the nature of a claim under this chapter is governed by the local law of the jurisdiction in which the debtor is located when the transfer is made or the obligation is incurred.