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1997 SESSION

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HB 1567 Bulk Sales Act.

Introduced by: Clifton A. Woodrum | all patrons    ...    notes | add to my profiles

SUMMARY:

Bulk sales. Repeals current Title 8.6 of the Uniform Commercial Code and replaces it with the new Bulk Sales Act. The new act is intended to afford better protection to creditors and to minimize impediments to good faith transactions. Current Title 8.6 has become outdated, in light of changes in the law and business practices. Notices required to be filed under the new act will be filed in the office of the clerk of the circuit court where the seller's business is located.

The bill is recommended by the National Conference of Commissioners on Uniform State Laws.


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