Wednesday, June 28, 2006
Governor Kathleen Babineaux Blanco signed Act 533 on June 22, making Louisiana the 20th state to have enacted a version of Revised Article 1 (and 22nd to have enacted Revised Article 7). Like the versions of Revised Article 1 enacted earlier this year in Arizona, Colorado, Kentucky, New Hampshire, and West Virginia, Louisiana Act 533 rejects uniform R1-301 in favor of choice-of-law language tracking pre-revised 1-105. Like the Colorado, Kentucky, New Hampshire, and West Virginia enactments, Louisiana Act 533 adopts R1-201(b)(20)'s uniform "good faith" definition. (Arizona's enactment retains the bifurcated good faith standard of pre-revised 1-201(19) and 2-103(1)(b).)
Three other bills remain active -- all of which (in their present forms) adopt uniform R1-201(b)(20) and reject uniform R1-301.
California SB 1481 has passed the Senate and received the unanimous support of the Assembly Judiciary Committee. However, the version of the bill coming out of the Assembly Judiciary Committee is not the same one the Senate passed earlier this month. So, it appears there will be some work to be done even if the Assembly follows the committee's recommendation.
Massachusetts HB 3731, introduced more than a year ago, continues to creep its way through the legislative process. The bill was referred to the Joint Committee on Economic Development and Emerging Technologies, which held a public hearing on October 26, 2005. On March 23, 2006, the Massachusetts House extended the committee’s deadline to report on the bill to June 23, 2006. No further action has been reported as of June 30, 2006.
The North Carolina Senate passed SB 1555 on June 7. The bill is presently before the House Judiciary Committee.
An interesting feature of the current version of California SB 1481 is the addition of a new section to the California Civil Code that would, in essence, create a new statute of frauds to replace the one in pre-revised 1-206 that Revised Article 1 eliminates.
[Keith A. Rowley]