The bill amends Chapter 109A of the General Laws, known as the Uniform Voidable Transactions Act, to update various definitions and provisions related to voidable transactions. Key changes include the insertion of the term "discretionary" in the definition of "sole," the addition of a definition for "Electronic," and the redefinition of "person" and "organization." The bill also introduces new definitions for "Record" and "Sign," and modifies existing sections to clarify the conditions under which a debtor is considered insolvent, as well as the burden of proof required for creditors making claims for relief.

Additionally, the bill replaces the term "fraudulent" with "voidable" in several sections, including those concerning claims for relief and the conditions under which transfers may be deemed voidable. It establishes rules for determining a debtor's location and clarifies that the local law of the jurisdiction where the debtor is located governs claims for relief. The bill also states that it modifies certain provisions of the Electronic Signatures in Global and National Commerce Act while ensuring that it does not affect specific sections of that act. Overall, the amendments aim to enhance clarity and uniformity in the application of the law regarding voidable transactions.