An Act relative to the Massachusetts Uniform Commercial Code
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill seeks to update the Massachusetts Uniform Commercial Code, which governs commercial transactions like sales, leases, and financing. It aims to bring Massachusetts law more in line with the current national standard for these agreements, potentially streamlining business practices and reducing legal complexities. The bill was referred to the House Committee on Financial Services for review and consideration. It is currently undergoing a hearing process.
Key provisions
- Updates the Massachusetts Uniform Commercial Code to align with current national standards.
- Addresses issues related to electronic transactions and signatures.
- Clarifies rules regarding negotiable instruments.
- Modifies provisions concerning secured transactions.
- Updates provisions related to the sale of goods.
Who is affected
- Businesses
- Financial institutions
- Merchants
- Lenders
- Consumers
Notable changes
- Harmonization with the Uniform Commercial Code.
- Potential adjustments to rules surrounding electronic documents.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Alice Hanlon Peisch
Cosponsor
Alice Hanlon Peisch
Arguments
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