California Bulk Sales Legislation, Senate Bill 12, Seeks to Repeal the California Bulk Sales LawFebruary 10, 2012 UCC, Corporate
The California State Senate is debating a piece of legislation that could dramatically affect your business. Labeled SB 12, this legislation seeks to amend significant sections of the state Business and Professions Code, the Civil Procedure Code, the Revenue and Taxation Code and Article 6 of the Uniform Commercial Code.
If passed, SB 12 will repeal the California Bulk Sales Law in its entirety.
First Corporate Solutions is tracking SB 12′s progress and will provide updates here as more information becomes available.
For more information, read the senate floor analysis of the bill here: http://www.leginfo.ca.gov/pub/11-12/bill/sen/sb_0001-0050/sb_12_cfa_20120109_112752_sen_comm.html