C1608A1D67B343D187258BC60073A00E Hearing Summary

The commission asked for a status report on the act in other states, Libby Snyder, Uniform Law Commission staff, responded that four states are working towards introducing the act, three of which were doing so in consultation with their state attorney general office.

Tyler Mounsey, Colorado Bar Association Legislative Liaison, referred to an email sent to the commission with some initial written testimony regarding the act and confirmed that it was an informal opinion. He added that it was felt that the act is not ready for introduction this year, but if it does move forward the Bar would like to help with it's drafting.

Commissioner Levy noted that concerns raised and discussed at the annual meeting seemed to be narrow in scope and proposed the commission consider drafting the act for introduction.

Commissioner Gardner added that one of the act's stated goals was to standardize the notifications with federal pre-merger notification requirements.

Commissioner Snyder concurred and added that evidence indicates that leaving states out of the notification loop causes problems and that it is in everyone's best interest to get this information to all relevant parties.

When asked, Libby Snyder, Uniform Law Commission staff, confirmed that the Uniform Law Commission considered enacting this act a priority.