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Friday, July 7, 2006

Carolina On My Mind ...

This is a bit premature, but I will be out of blog contact for the next week and wanted to alert you that North Carolina is on the cusp of enacting Revised Article 1 (and Revised Article 7).  SB 1555 has passed both houses of the North Carolina legislature without objection and been ratified by the originating house.  All that remains is for Governor Michael F. Easley to sign it or fail to veto it within 10 days from presentation.  (The clock should begin to run today or Monday.)

Enacting SB 1555 will make North Carolina the twenty-first state to have enacted Revised Article 1 (and the twenty-third to have enacted Revised Article 7) and the twenty-first state to have rejected the language of uniform R1-301 in favor of language similar to that found in its version of pre-revised 1-105.  Enacting SB 1555 will make North Carolina the fifteenth state to have adopted the unitary good faith standard of uniform R1-201(b)(20).

Elsewhere, California SB 1481, which had passed the Senate when I last reported on it, still awaits final approval by the Assembly, followed by some conference work to resolve differences between the version of the bill the Senate passed and the version now before the Assembly.

[Keith A. Rowley]

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