March 15, 2005
Revised Article 1 Update
The Arkansas Senate passed HB 1497 (see my 3/10 post for more details about the bill) and transmitted it to the governor for approval. Assuming the governor signs or does not veto the bill, Arkansas should be the first state to enact Revised Article 1 this year. (Brooklyn's Neil Cohen called my attention to the fact that the same bill includes the 2002 amendments to UCC Articles 3 and 4 and that this would make Arkansas the second state to adopt those amendments. Thus far, only Minnesota has done so.)
Elsewhere, New Mexico's House Judiciary Committee unanimously recommended passage of, and its House of Representatives unanimously passed, HB 834. The bill is now before the New Mexico Senate Judiciary Committee.
And, the Illinois Senate's Judiciary Committee unanimously recommended passage of SB 1647. If enacted in its present form, Illinois SB 1647 would make Illinois the first state to adopt uniform R1-301.
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