Date	Chamber	Action
1/9/2025	House	Referred to Rules Committee

Statutes Amended In Order of Appearance

215 ILCS 5/35B-25

215 ILCS 5/204

from Ch. 73, par. 816

740 ILCS 160/Act title

740 ILCS 160/1

from Ch. 59, par. 101

740 ILCS 160/2

from Ch. 59, par. 102

740 ILCS 160/3

from Ch. 59, par. 103

740 ILCS 160/4

from Ch. 59, par. 104

740 ILCS 160/5

from Ch. 59, par. 105

740 ILCS 160/6

from Ch. 59, par. 106

740 ILCS 160/7

from Ch. 59, par. 107

740 ILCS 160/8

from Ch. 59, par. 108

740 ILCS 160/9

from Ch. 59, par. 109

740 ILCS 160/10

from Ch. 59, par. 110

740 ILCS 160/10.1 new

740 ILCS 160/10.2 new

740 ILCS 160/14 new

760 ILCS 3/1332

760 ILCS 3/1335

Synopsis As Introduced
Amends the Uniform Fraudulent Transfer Act. Changes the short title to the Uniform Voidable Transactions Act. Makes changes to the Act that were recommended by the National Conference of Commissioners on Uniform State Laws in 2014, including: adding definitions for "electronic", "organization", "record", and "sign"; providing that a presumption of insolvency imposes on the party against which the presumption is directed the burden of proving that the nonexistence of insolvency is more probable than its existence; removing language providing that a partnership is insolvent if the sum of the partnership's debts is greater than the aggregate, at a fair valuation, of all of the partnership's assets and the sum of the excess of the value of each general partner's nonpartnership assets over the partner's nonpartnership debts; providing that a creditor making a claim for relief has the burden of proving the elements of the claim for relief by a preponderance of the evidence; adding rules to determine the burden of proving matters regarding defenses, liability, and the protection of transferees or obligees; adding rules to determine a debtor's location; providing that a series organization and each protected series of the organization is a separate person, even if for other purposes a protected series is not a person separate from the organization of other protected series of the organization; how the Act relates to the Electronic Signatures in Global and National Commerce Act; and other changes. Makes conforming changes in the Illinois Insurance Code and the Illinois Trust Code.

Actions 

Date	Chamber	Action
12/5/2024	House	Prefiled with Clerk by Rep. Daniel Didech
1/9/2025	House	First Reading
1/9/2025	House	Referred to Rules Committee

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