Date: 01/28/2015

Final
Uniform Voidable Transactions Act, LLS 15-0669

COLORADO COMMISSION ON UNIFORM STATE LAWS

Votes: View--> Action Taken:
Moved to approve the Uniform Voidable TransactionsPass Without Objection


01:38 PM -- Uniform Voidable Transactions Act (formerly the Uniform Fraudulent Transfer Act), LLS 15-0669


01:38 PM -- Andy Toft, Colorado Bar Association – Real Estate (RE) Section, stated that the RE section does not have an overall objection to the act but does have concerns with Section 10 regarding the governing section of law and with Section 11 regarding series organizations.

The commissioners suggested that the comments section of the act seems to answer the governing law question and suggested that, although series organizations do not exist in Colorado, they do exist in other states and that it could prove beneficial to have some direction in place for handling them should the need arise. The commission also suggested that the bill draft be amended to state that nothing in the section authorizes the creation of a series organization pursuant to Colorado law.


BILL:Uniform Voidable Transactions Act (formerly the Uniform Fraudulent Transfer Act), LLS 15-0669
TIME: 01:47:57 PM
MOVED:Commissioner Shaffer
MOTION:Moved to approve the Uniform Voidable Transactions Act, amended as discussed, as a commission bill, find a bill sponsor, and seek delayed authorization for introduction. The motion passed without objection.
SECONDED:
VOTE
Bob Gardner
Thomas Grimshaw
Excused
Jon Keyser
Claire Levy
Donald Mielke
Thomas Morris
Charley Pike
Brandon Shaffer
Pat Steadman
(None), (None)
McGihon
YES: 0 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: Pass Without Objection