The Model Veterans Treatment Court Act (MVTCA) allows a state to implement diversionary courts for veterans of the U.S. armed services. Veterans’ courts have been created in a number of judicial districts around the United States to ensure that veterans in the criminal justice system receive the treatment and support necessary to rehabilitate them into being productive members of society. Very few states have legislation on veterans’ courts, but many local judicial districts have effectively created veterans’ courts by rule or practice. The MVTCA provides guidelines for the establishment of veterans’ courts while permitting substantial local discretion necessary to accommodate particular circumstances in different communities. The act is drafted so it can also be adopted as court rules. For more information about the MVTCA please contact ULC Legislative Counsel Lindsay Beaver at (312) 450-6618 or lbeaver@uniformlaws.org.
The Uniform Regulation of Virtual-Currency Businesses Act (URVCBA) provides a statutory framework for the regulation of companies engaging in “virtual-currency business activity,” such as exchanging, transferring, or storing virtual currency; holding electronic precious metals or certificates of electronic precious metals; or exchanging digital representations of value within online games for virtual currency or legal tender. The URVCBA does not apply to non-fungible tokens, also known as “NFTs." The URVCBA’s unique, three-tiered structure clarifies whether an individual or company engaging in virtual currency business activity is (1) exempt from the act; (2) must register; or (3) must obtain a license. The URVCBA also contains numerous consumer protections. For further information about the URVCBA, please contact Legislative Program Director Kaitlin Wolff at 312-450-6615 or kwolff@uniformlaws.org.
The Uniform Supplemental Commercial Law for the Uniform Regulation of Virtual-Currency Businesses Act (the “Supplemental Act”) is a follow-up to the Uniform Regulation of Virtual-Currency Businesses Act (URVCBA). This Supplemental Act provides the commercial law rules using the time-tested duties and rights of customers of securities intermediaries under the Uniform Commercial Code. The Supplemental Act does this by incorporating Article 8 of the Uniform Commercial Code into the agreement made between a virtual-currency licensee or registrant and users. For further information about the Supplemental Act, please contact Legislative Program Director Kaitlin Wolff at 312-450-6615 or kwolff@uniformlaws.org.
The Uniform Voidable Transactions Act (UVTA), formerly named the Uniform Fraudulent Transfer Act (UFTA), strengthens creditor protections by providing remedies for certain transactions by a debtor that are unfair to the debtor’s creditors. The 2014 amendments address a few narrowly-defined issues and are not a comprehensive revision of the 1984 act. For further information about the UVTA, please contact Legislative Program Director Kaitlin Wolff at 312-450-6615 or kwolff@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.