2002-05-16                     Senate Journal                      Page 3618
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" was read the                            
second time.                                                                                        
                                                                                                    
Senator Leman moved and asked unanimous consent that the bill be                                    
advanced to third reading and placed on final passage. Senator Ellis                                
objected.                                                                                           
                                                                                                    
The question being: "Shall the bill be advanced to third reading?" The                              
roll was taken with the following result:                                                           
                                                                                                    
CSHB 499(JUD)                                                                                       
Advance from Second to Third Reading?                                                               
                                                                                                    
YEAS:  17   NAYS:  3   EXCUSED:  0   ABSENT:  0                                                   
                                                                                                    
Yeas:  Austerman, Cowdery, Davis, Donley, Green, Halford,                                           
Hoffman, Kelly, Leman, Olson, Phillips, Stevens, Taylor, Therriault,                                
Torgerson, Ward, Wilken                                                                             
                                                                                                    
Nays:  Ellis, Elton, Lincoln                                                                        
                                                                                                    
and so, the bill advanced to third reading.                                                         
                                                                                                    
CS FOR HOUSE BILL NO. 499(JUD) was read the third time.                                             
                                                                                                    
The question being: "Shall 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