This bill amends section 2 of the 1846 RS 81 law regarding fraudulent conveyances and contracts, specifically addressing the requirements for certain agreements, contracts, or promises to be valid. It stipulates that such agreements must be in writing and signed by the party to be charged, particularly in cases involving agreements not to be performed within one year, special promises related to debts or marriage, and contracts for commissions on real estate sales. The bill also clarifies that actions against financial institutions to enforce promises or commitments must be documented in writing and signed by the institution.

Additionally, the bill updates the definition of "financial institution" to include various types of banks, savings associations, credit unions, and licensed mortgage entities. It removes outdated language regarding the definition and adds new provisions to ensure clarity and compliance with current financial regulations. The enactment of this bill is contingent upon the passage of House Bill No. 6177.

Statutes affected:
House Introduced Bill: 566.132