AB 771
Financing statements: mortgages.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Chaptered
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Sign in to take action- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill amends California’s Commercial Code to clarify how mortgage records are treated as financing statements. Specifically, it changes the requirements for identifying the debtor on a mortgage record, allowing for the use of either the individual’s full name or just their surname and first name, even if the debtor has a driver’s license or identification card on file. This change ensures that mortgage records are properly recognized as financing statements, providing greater clarity and notice to potential creditors.
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