04/11/2011 09:00 AM Senate FINANCE

SENATE BILL NO. 101                                                                                                           
                                                                                                                                
     "An  Act adopting  the Alaska  Entity Transactions  Act;                                                                   
     relating  to changing  the form  of entities,  including                                                                   
     corporations,     partnerships,    limited     liability                                                                   
     companies,  business  trusts, and  other  organizations;                                                                   
     amending Rule  79, Alaska Rules of Civil  Procedure, and                                                                   
     Rules  602(b)(2),  602(c), and  605.5,  Alaska Rules  of                                                                   
     Appellate  Procedure;  and  providing for  an  effective                                                                   
     date."                                                                                                                     
                                                                                                                                
9:08:12 AM                                                                                                                    
                                                                                                                                
SENATOR  JOE  PASKVAN   stated  that  SB  101   would  update                                                                   
Alaska's  corporate structure.  He  remarked  that there  had                                                                   
been different types  of legal entities that  had been formed                                                                   
in Alaska,  like  limited liability  corporations or  limited                                                                   
liability  partnerships. He  stated that  SB 101 would  allow                                                                   
for  mergers,  conversions,  interest  exchanges,  and  other                                                                   
types of  entity transactions to  be easier to obtain  in the                                                                   
state of Alaska.                                                                                                                
                                                                                                                                
Co-Chair Stedman discussed the one zero fiscal note.                                                                            
                                                                                                                                
Co-Chair  Hoffman MOVED  to report  SB 101  out of  committee                                                                   
with  individual recommendations  and  the accompanying  zero                                                                   
fiscal note. Seeing NO OBJECTION it was so ordered.                                                                             
                                                                                                                                
SB  101  was REPORTED  out  of  committee  with a  "do  pass"                                                                   
recommendation and  with accompanying a previously  published                                                                   
zero fiscal note from the Department  of Commerce, Community,                                                                   
and Economic Development.                                                                                                       
                                                                                                                                
9:09:54 AM                                                                                                                    
AT EASE                                                                                                                         
                                                                                                                                
9:10:01 AM                                                                                                                    
RECONVENED