SB 265-2010 REVISOR'S BILL                                                                               
                                                                                                                                
1:38:24 PM                                                                                                                    
CHAIR FRENCH announced the consideration of SB 265.                                                                             
                                                                                                                                
KATHRYN KURTZ,  Assistant Revisor of Statutes,  Legislative Legal                                                               
Services, said SB 265 corrects  deficiencies, deals with obsolete                                                               
provisions,  and addresses  mistakes  in the  statutes. She  said                                                               
that the  Department of Law  (DOL) has determined that  this bill                                                               
makes important technical changes.                                                                                              
                                                                                                                                
1:39:49 PM                                                                                                                    
CHAIR FRENCH said  he has no questions because  he looked closely                                                               
at the  bill in a  previous committee. He  noted that there  is a                                                               
proposed  amendment  based  on comments  made  in  that  previous                                                               
committee. Finding  no questions,  he moved Amendment  1, labeled                                                               
26-LS1220\S.1.                                                                                                                  
                                                                                                                                
                          AMENDMENT 1                                                                                         
                                                                                                                                
     OFFERED IN THE SENATE                                                                                                      
          TO: SB 265                                                                                                            
                                                                                                                                
     Page 3, line 27, through page 4, line 1:                                                                                   
          Delete all material and insert:                                                                                       
     "* Sec. 6. AS 08.48.341(10) is amended to read:                                                                          
                         (10)       "limited       liability                                                                    
     partnership: means  a limited liability  partnership or                                                                
     a  foreign  limited  liability  partnership,  as  those                                                                
     terms  are defined  in  AS  32.06.995 [AN  ORGANIZATION                                                                
     REGISTERED  UNDER AS  32.05.415  OR  A FOREIGN  LIMITED                                                                    
     LIABILITY  PARTNERSHIP;  IN  THIS  PARAGRAPH,  "FOREIGN                                                                    
     LIMITED  LIABILITY PARTNERSHIP:  HAS THE  MEANING GIVEN                                                                    
     IN AS 32.05.990];"                                                                                                         
                                                                                                                                
SENATOR COGHILL objected for an explanation.                                                                                    
                                                                                                                                
1:41:02 PM                                                                                                                    
MS. KURTZ explained that the  previous committee thought that the                                                               
language  in  Section  6  was overly  complex  and  awkward.  The                                                               
amendment makes no substantive change  to the meaning of the bill                                                               
or to the underlying statute.                                                                                                   
                                                                                                                                
SENATOR COGHILL removed his objection.                                                                                          
                                                                                                                                
CHAIR FRENCH announced that  without further objection, Amendment                                                               
1 is adopted.                                                                                                                   
                                                                                                                                
SENATOR MCGUIRE joined the committee.                                                                                           
                                                                                                                                
CHAIR FRENCH  closed public testimony  and asked the will  of the                                                               
committee.                                                                                                                      
                                                                                                                                
1:42:50 PM                                                                                                                    
SENATOR  MCGUIRE  moved to  report  SB  265 from  committee  with                                                               
individual  recommendations and  attached  fiscal note(s).  There                                                               
being  no   objection,  CSSB  265(JUD)  moved   from  the  Senate                                                               
Judiciary Standing Committee.