January 25, 2022 - The Executive Committee of the Uniform Law Commission (ULC) has recently authorized the appointment of three new study committees.
The new study committees are:
Study Committee on Assignment for Benefit of Creditors. This committee will study the need for and feasibility of a uniform or model act on the assignment for benefit of creditors. An assignment for benefit of creditors is a voluntary transfer of property by a debtor to an assignee in trust to apply the property or proceeds thereof to the payment of the debtor's debts and return the surplus, if any to the debtor. Although assignment for benefit of creditors is commonly used to shut businesses down through a simpler process than bankruptcy, the legal framework for the process varies significantly among states.
Study Committee on Military Spouse Occupational Licensing. This committee will study the need for and feasibility of a uniform or model act on the portability and recognition of professional licenses of military spouses. Occupational licensure portability remains an enduring problem for military spouses, as the duration of military assignments, coupled with inconsistent, lengthy, and expensive relicensing processes, discourages military spouses from seeking licensure.
Study Committee on Uniform Transfers to Minors Act. This committee will study the need for and feasibility of updating the Uniform Transfers to Minors Act (UTMA). Under this act, which was promulgated in 1983 and amended in 1986, and which has 51 enactments, a person may transfer property to a custodian for the benefit of a minor. The study committee will undertake a comprehensive review of the UTMA for all needed updates and revisions.
Further information on all current drafting and study committees, as well as information on the Uniform Law Commission, can be found at the ULC's website at www.uniformlaws.org.
Study Committees review an assigned area of law in light of defined criteria and recommend whether ULC should proceed with a draft on that subject. Drafting committees, composed of commissioners, with participation from observers, advisors and reporter-drafters, meet throughout the year. Tentative drafts are not submitted to the entire Commission until they have received extensive committee consideration.
Proposed acts are subjected to rigorous examination and debate before they become eligible for designation as ULC products. The final decision on whether an act is ready for promulgation to the states is made near the close of an annual meeting, on a vote by states basis, with an affirmative vote of twenty or more states necessary for final approval.
The Uniform Law Commission, now in its 131st year, provides states with non-partisan, well-conceived and well-drafted legislation that brings clarity and stability to critical areas of state statutory law. The organization comprises more than 300 lawyers, judges, and law professors, appointed by the states as well as the District of Columbia, Puerto Rico, and the U.S. Virgin Islands, to research, draft and promote enactment of uniform state laws in areas of state law where uniformity is desirable and practical. Since its inception in 1892, the group has promulgated more than 200 acts, among them such bulwarks of state statutory law as the Uniform Commercial Code, the Uniform Probate Code, and the Uniform Partnership Act.
Contact: Katie Robinson, ULC Communications Officer, krobinson@...
Uniform Law Commission / 111 N. Wabash Ave., Suite 1010, Chicago, IL 60602 / 312-450-6600, www.uniformlaws.org
Uniform Law Commission 111 N. Wabash Avenue, Suite 1010 Chicago, Illinois 60602
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.