2002-05-13                     Senate Journal                      Page 3510
HB 499                                                                                            
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,                            

2002-05-13                     Senate Journal                      Page 3511
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" was not taken                           
up on the May 13 first supplemental calendar. The bill will be on the                               
May 14 calendar.