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Bills · 2009-2010 Regular Session

SB 143

Died at session end Official bill text Atom feed

bulk transfers of inventory.

  1. Introduced, stopped here
  2. Passes Senate, not reached
  3. Passes Assembly, not reached
  4. Governor signs, not reached
  5. Law, not reached

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

Under current law, the bulk transfer provisions of the Uniform Commercial

Code (UCC) generally require a business enterprise to give creditors notice before

any transfer of a major part of the value of the business's inventory or a substantial

part of the equipment of the business, if the equipment is included with a bulk

transfer of inventory. These provisions apply to all business enterprises whose

principal business is the sale of merchandise from stock, including retailers of

alcohol beverages. This bill repeals the bulk transfer provisions of the UCC.

The National Conference of Commissioners on Uniform State Laws and the

American Law Institute recommended repeal of the UCC bulk transfers law in 1989

and promulgated the official text. The American Bar Association approved the text

in 1990.

Sponsors

Introduced by: Risser (D) , Taylor (D)

4 cosponsors

A. Williams (D) , Colon (D) , Cullen (D) , Molepske Jr. (D)

Full history

  1. Mar 31, 2009 · Senate

    Introduced by Senators Risser and Taylor;Cosponsored by Representatives Cullen, Colon, Molepske Jr. and A. Williams

  2. Mar 31, 2009 · Senate

    Read first time and referred to committee on Veterans and Military Affairs, Biotechnology, and Financial Institutions

  3. Apr 28, 2010 · Senate

    Failed to pass pursuant to Senate Joint Resolution 1