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Dec. 13, 2017
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Minutes for SB65 - Committee on Financial Institutions and Pensions

Short Title

Allowing creditor sale of repossessed alcoholic liquors pledged as collateral for satisfaction of debt.

Minutes Content for Wed, Mar 8, 2017

David Wiese, staff revisor, reviewed the bill.

Chairperson Kelly opened the hearing on SB65.

Tuck Duncan testified in support of SB65 stating that it would clarify the rights of a secured creditor.  Mr. Duncan's testimony provided languages for a proposed amendment which would broaden the bill's language to include all licensees. (Attachment 7)  Mr. Duncan responded to questions from the Committee.

Kathy Taylor testified in support of SB65 and said she views Mr. Duncan's proposed amendment as friendly. (Attachment 8)  Ms. Taylor responded to questions from the Committee.

Debbi Beavers provided neutral testimony for SB65.  She requests clarification of the dispersal of funds from inventory liquidation in cases where the debtor has an outstanding balance of liquor taxes. (Attachment 9)  Ms. Beavers responded to questions from the Committee.

There being no further conferees, Chairperson Kelly closed the hearing on SB65.