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Bulk Sales Bill Gutted and Amended!

By Keith Paul Bishop on August 15, 2012 in Mergers & Acquisitions

As we come down to the closing days of the current legislative biennium, the legislative process becomes frenetic and unpredictable.  SB 12 (Corbett) started out repealing California’s Bulk Sales Act.  As I wrote about earlier today, it was amended to maintain selected portions of the BSA.  Now, the author has gutted the entire bill and amended it to add an exception to the Vehicle Code (the text available at the time of this posting is available here).  So for the time being, the BSA will not depart. 

This illustrates an unsettling aspect of the legislative process when dramatic changes are made with little or no real opportunity for the public to study and comment.  See “Sticking to the Subject“.

bulk sales actGut and AmendSB 12
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