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2012 SESSION

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SB 51 Uniform Commercial Code; secured transactions.

Introduced by: John C. Watkins | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Uniform Commercial Code; secured transactions.  Incorporates amendments to the secured transactions title of the Uniform Commercial Code that have been adopted by the National Conference of Commissioners on Uniform State Laws. The amended sections (i) update certain definitions; (ii) incorporate safe harbor provisions for electronic chattel paper under the Uniform Electronic Actions Act; (iii) amend the laws of perfection and priority to increase the likelihood that a security interest will be perfected under certain conditions; (iv) set out the sufficiency requirements for a financing statement to provide the name of the debtor; (v) delete prescribed forms for financing statements; and (vi) provide technical amendments and transition provisions. The measure takes effect on July 1, 2013.

FULL TEXT

• 01/04/12  Senate: Prefiled and ordered printed; offered 01/11/12 12101064D  pdf
• 01/26/12  Senate: Printed as engrossed 12101064D-E  pdf
• 02/23/12  Senate: Bill text as passed Senate and House (SB51ER)  pdf
• 03/07/12  Governor: Acts of Assembly Chapter text (CHAP0155)  pdf

AMENDMENTS

• Senate amendments

HISTORY

• 01/04/12  Senate: Prefiled and ordered printed; offered 01/11/12 12101064D
• 01/04/12  Senate: Referred to Committee on Commerce and Labor
• 01/23/12  Senate: Reported from Commerce and Labor with amendment (15-Y 0-N)
• 01/25/12  Senate: Constitutional reading dispensed (40-Y 0-N)
• 01/26/12  Senate: Read second time
• 01/26/12  Senate: Reading of amendment waived
• 01/26/12  Senate: Committee amendment agreed to
• 01/26/12  Senate: Engrossed by Senate as amended SB51E
• 01/26/12  Senate: Printed as engrossed 12101064D-E
• 01/27/12  Senate: Read third time and passed Senate (39-Y 0-N)
• 02/13/12  House: Placed on Calendar
• 02/13/12  House: Read first time
• 02/13/12  House: Referred to Committee on Commerce and Labor
• 02/16/12  House: Reported from Commerce and Labor (22-Y 0-N)
• 02/20/12  House: Read second time
• 02/21/12  House: Read third time
• 02/21/12  House: Passed House BLOCK VOTE (100-Y 0-N)
• 02/21/12  House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
• 02/23/12  Senate: Enrolled
• 02/23/12  Senate: Bill text as passed Senate and House (SB51ER)
• 02/23/12  Senate: Signed by President
• 02/23/12  House: Signed by Speaker
• 03/07/12  Governor: Approved by Governor-Chapter 155 (effective 7/1/13)
• 03/07/12  Governor: Acts of Assembly Chapter text (CHAP0155)