Monday, July 31, 2017
The Uniform Law Commission (ULC) approved six new acts at its recently-concluded 126th annual meeting in San Diego, California. Among the acts passed is the Uniform Regulation of Virtual Currency Business Act that constructs a statutory framework for the regulation of business activity involving virtual currencies. The Uniform Direct Trust acts clarifies the duties of direct trustees and those with the authority to direct them. The Uniform Guardianship, Conservatorship, and Other Protective Arrangement Act represents an updated guardianship statute designed to better protect the rights of children and adults subject to guardianship. The Uniform Parentage Act is a revision of the prior parentage act and addresses issues involving same-sex couples, surrogacy, and de facto parentage. The Uniform Protected Series Act offers a framework for the creation of a protected series limited liability company. And last, the Model Veterans Treatment Court Act provides a template for the establishment of veterans’ courts while still allowing for significant local discretion in order to better accommodate the realities found in different communities.
See Uniform Law Commission Concludes 126th Annual Meeting, Uniform Law Commission, July 19, 2017.