The Uniform Securities Act (USA) provides basic investor protection from securities fraud, complementing the federal Securities and Exchange Act. The act only applies to securities not regulated by the Securities and Exchange Commission. For further infofmation about enacting the USA please contact ULC Chief Counsel Benjamin Orzeske at (312) 450-6621 or borzeske@uniformlaws.org.
The Uniform Simultaneous Death Act (USDA) creates a default rule that one person must survive another by 120 hours to avoid disputes caused by simultaneous or quickly successive deaths of persons between whom property passes at death. The provisions of this act are also incorporated into the Uniform Probate Code. For further information about enacting the USDA please contact ULC Chief Counsel Benjamin Orzeske at (312) 450-6621 or borzeske@uniformlaws.org.
A special deposit is a deposit of money at a bank where the person entitled to the money is only determined after a specific event or circumstance has occurred. Although such accounts are commonly used, the surrounding legal protections are far from certain. The Uniform Special Deposits Act minimizes these uncertainties and provides banks and their customers with clear, executable rules to ensure the expectations of special deposit account users will be respected. For more information about enacting the Uniform Special Deposits Act, please contact ULC Legislative Counsel Kari Bearman at (312) 450-6617 or kbearman@uniformlaws.org.
The Revised Model State Administrative Procedure Act (MSAPA) is an update of the 1981 act of the same name. The 1981 act provided procedures for promulgating administrative regulations and for adjudicating disputes before administrative bodies. The revision updates the act to recognize electronic communications and other state procedural innovations.
The Model Statute and Rule Construction Act (MSRCA) provides guidelines for drafting and interpreting a state's statutes and administrative rules.
The Uniform Statutory Rule Against Perpetuities (USRAP) invalidates interests in property that are intended to belong to somebody at a future time, but for which the actual determination of ownership cannot or will not be accomplished within a specific period of time. USRAP improves upon the common-law rule against perpetuities by including a "wait and see" provision that prevents automatic invalidation of property transfers. For further information about enacting USRAP please contact ULC Chief Counsel Benjamin Orzeske at (312) 450-6621 or borzeske@uniformlaws.org.
The Uniform Statutory Trust Entity Act (USTEA) governs the use of statutory trusts as a mode of business organization. USTEA modernizes the existing, but outdated, laws governing these types of entities. For further information about the USTEA, please contact ULC Legislative Counsel Kari Bearman at 312-450-6617 or kbearman@uniformlaws.org.
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Uniform Law Commission The Uniform Law Commission (ULC, also known as the National Conference of Commissioners on Uniform State Laws), established in 1892, provides states with non-partisan, well-conceived and well-drafted legislation that brings clarity and stability to critical areas of state statutory law.