Alabama § 26-2A-137 Protective Arrangements and Single Transactions Authorized

Alabama Statutes

§ 26-2A-137 — Protective Arrangements and Single Transactions Authorized

Alabama·Title 26 Infants and Incompetents·Ch. 2A Alabama Uniform Guardianship and Protective Proceedings Act·Art. 2 Protection of Persons Under Disability and Their Property·Div. 3 Protection of Property of Persons Under Disability and Minors

(a)If it is established in a proper proceeding that a basis exists for the appointment of a conservator or protective order as described in Section 26-2A-130, the court, without appointing a conservator, may authorize, direct, or ratify any transaction necessary or desirable to achieve any security, service, or care arrangement meeting the foreseeable needs of the protected person. Protective arrangements include payment, delivery, deposit, or retention of funds or property; sale, mortgage, lease, or other transfer of property, including, but not limited to the leasing of oil, gas, and other mineral rights of the protected person; entry into an annuity contract, a contract for life care, a deposit contract, or a contract for training and education; or addition to or establishment of a sui

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(a) If it is established in a proper proceeding that a basis exists for the appointment of a conservator or protective order as described in Section 26-2A-130, the court, without appointing a conservator, may authorize, direct, or ratify any transaction necessary or desirable to achieve any security, service, or care arrangement meeting the foreseeable needs of the protected person. Protective arrangements include payment, delivery, deposit, or retention of funds or property; sale, mortgage, lease, or other transfer of property, including, but not limited to the leasing of oil, gas, and other mineral rights of the protected person; entry into an annuity contract, a contract for life care, a deposit contract, or a contract for training and education; or addition to or establishment of a suitable trust.
(b) If it is established in a proper proceeding that a basis exists for the appointment of a conservator or protective order as described in Section 26-2A-130, the court, without appointing a conservator, may authorize, direct, or ratify any contract, trust, or other transaction relating to the protected person’s property and business affairs, including, but not limited to the leasing of oil, gas, and other mineral rights of the protected person, if the court determines that the transaction is in the best interest of the protected person.
(c) Before approving a protective arrangement or other transaction under this section, the court shall consider the interests of creditors and dependents of the protected person and, in view of the disability, whether the protected person needs the continuing protection of a conservator. The court may appoint a special conservator to assist in the accomplishment of any protective arrangement or other transaction authorized under this section who shall have the authority conferred by the order and serve until discharged by order after report to the court of all matters done pursuant to the order of appointment.

Alabama § 26-2A-137 (Protective Arrangements and Single Transactions Authorized) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.