An Act relating to the Uniform Commercial Code; relating to secured transactions; relating to controllable accounts, controllable electronic records, and controllable payment intangibles; relating to sales; relating to negotiable instruments; relating to letters of credit; relating to warehouse receipts, bills of lading, and other documents of title; relating to investment securities; relating to leases of goods; and relating to fund transfers.
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- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill makes changes to the Uniform Commercial Code (UCC), which governs transactions involving goods, financial instruments, and other commercial matters. Specifically, it addresses issues related to fraud in sales, the handling of electronic records and payments, and the validity of pledges of bonds. The bill also includes amendments concerning the validity of transfers of property to avoid child support obligations and clarifies rules regarding negotiable instruments and sales contracts.
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