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Senate Bill 12 – Bulk Sale Law Updates (6/3/2012)

UCC, Legislation

[Updated: 6/5/2012]

There is news and updates to report regarding SB12 and the efforts being made to defeat it.

Please see the letter linked here, composed by the Escrow Institute’s Tim Egan and other committee members listed below, which voices our collective concerns.

Larry Shewfelt
Donna GradyDiane
Nancy Silberberg
Beulah Stidham
Patsy Mercado
PJ Garcia

Further, they have an SB 12 conference call set for this Wednesday at 10:00AM, and they (EIC/CEA and the liquor lobby) have a meeting today with Senator Corbett’s office to discuss our collective opposition. The bill has not yet been set for hearing but it is anticipated it will be set sometime this week and could be heard later this month.

As more news becomes available we will post it here so please check back to follow the progress made in opposing SB12.



4 thoughts on “Senate Bill 12 – Bulk Sale Law Updates (6/3/2012)

  1. It is important SB12 does not pass, it will be more harmfull to creditors and buyers if it goes into effect. When we process Bulk Sales, 99% of the time creditors are all paid when we have sufficient funds to do so and proper notices sent to all State Departments, etc.after recording and publication giving notice to creditors. Creditors do have sufficient time to file a judgment lien against the seller if not paid in full. Keep us informed and updated. Thanks!
    Ann Lonnie

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