March 02, 2007
UCC Legislative Update (3/2/07)
What looked to be a prolific year for Revised Article 1 -- based on the number of January introductions -- now looks like it might produce fewer adoptions than either 2005 or 2006.
Utah SB 91 has passed both houses, but has not yet made its way to Governor Jon Hunstman, Jr.'s desk. Indiana SB 419, Kansas SB 183, and North Dakota HB 1035 have each passed one house and are in the other. Parallel bills Florida HB 151 and SB 252 are slowly progressing through their respective originating houses. Rhode Island SB 105 has been idling since its mid-January introduction. South Dakota SB 85 was been tabled until after the legislative session adjourns.
Utah SB 91, Indiana SB 419, and Kansas SB 183 have each been amended to replace uniform R1-301 with choice-of-law language tracking pre-Revised 1-105 -- keeping uniform R1-301's 0-for-22 streak alive. Kansas SB 183 and North Dakota HB 1035 adopt the uniform R1-201(b)(20) good faith standard. Indiana SB 419, Rhode Island SB 105, and Utah SB 91 retain the bifurcated good faith standard of pre-Revised 1-201(19), 2-103(1)(b) & 2A-103(3).
Elsewhere on the UCC front ...
Oklahoma HB 2172, proposing adoption of the 2003 amendments to UCC Articles 2 & 2A (along with certain conforming amendments to other articles), was introduced on February 5 and referred to the Oklahoma House Rules Committee on February 6. No further action has been reported.
Oklahoma HB 2171, proposing adoption of the 2002 amendments to UCC Articles 3 & 4 (along with certain conforming amendments to other articles), was also introduced on February 5 and referred to the Oklahoma House Rules Committee on February 6. No further action has been reported.
[Keith A. Rowley]
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