Alabama Partnership Bill Receives a Favorable Report in Senate and House Committees
January 16, 2018
SB 133, sponsored by Senator Arthur Orr (R-Decatur), passed the Senate Judiciary Committee last week. Representative Bill Poole (R-Tuscaloosa) sponsored the companion legislation in the House, HB 72, which passed the House Judiciary Committee last week as well.
SB 133/HB 72 would revise and update the Alabama Partnership Act, bringing it into better alignment with the Alabama Limited Partnership Law and the Alabama Limited Liability Company Law. The Alabama Partnership Act governs the formation and dissolution of partnerships in the state, setting default rules for partnership agreements that are not clearly spelled out.
SB 133 is pending final passage in the Senate, while HB 72 is pending final passage in the House.