Legislature(2001 - 2002)

2002-04-22 House Journal

Full Journal pdf

2002-04-22                     House Journal                      Page 3063
HB 499                                                                                            
The Judiciary Committee has considered:                                                             
    HOUSE BILL NO. 499                                                                              
    "An Act relating to the sale, lease, exchange, or other disposition                             
    of business property and assets."                                                               
and recommends it be replaced with:                                                                 
    CS FOR HOUSE BILL NO. 499(JUD)                                                                  
    "An Act declaring legislative intent to reject the continuity of                                
    enterprise exception to the doctrine of successor liability adopted                             
    in Savage Arms, Inc. v. Western Auto Supply, 18 P.3d 49 (Alaska                                 
    2001) as it relates to products liability; providing that a successor                           
    corporation or other business entity that acquires assets of a                                  
    predecessor corporation or other business entity is subject to                                  
    liability for harm to persons or property caused by a defective                                 
    product sold or otherwise distributed commercially by the                                       
    predecessor only if the acquisition is accompanied by an                                        
    agreement for the successor to assume the liability, results from a                             
    fraudulent conveyance to escape liability for the debts or liabilities                          
    of the predecessor, constitutes a consolidation or merger with the                              
    predecessor, or results in the successor's becoming a continuation                              
    of the predecessor; defining 'business entity' that acquires assets to                          
    include a sole proprietorship; and applying this Act to the sale,                               
    lease, exchange, or other disposition of assets by a corporation, a                             
    limited liability company, a partnership, a limited liability                                   
    partnership, a limited partnership, a sole proprietorship, or other                             
    business entity that occurs before, on, or after the effective date of                          
    this Act."                                                                                      
The report was signed by Representative Rokeberg, Chair, with the                                   
following individual recommendations:                                                               

2002-04-22                     House Journal                      Page 3064
Do pass (2):  Meyer, Rokeberg                                                                       
No recommendation (4):  Berkowitz, Coghill, James, Kookesh                                          
The following fiscal note(s) apply to CSHB 499(JUD):                                                
1.  Zero, Dept. of Community & Economic Development                                                 
HB 499 was referred to the Rules Committee for placement on the