HB 1204 Uniform Commercial Code; Secured Transactions.
Clifton A. (Chip) Woodrum | all patrons    ...    notes
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Summary as passed: (all summaries)
Uniform Commercial Code; Secured Transactions. Updates Article 9 (Secured Transactions) of the Uniform Commercial Code, which was last revised in 1972 and adopted in every state. Article 9 provides a statutory framework for transactions that involve the granting of credit secured by personal property. Filing will be with State Corporation Commission only; local filing, other than fixture filings, will be abolished. The new Article 9 generally provides for the filing of a financing statement in the state where the debtor is incorporated. The scope of Article 9 is expanded to include kinds of property such as deposit accounts, health care receivables and commercial tort claims, that were excluded in original Article 9. The location of the debtor rather than the location of the collateral will determine where a security interest perfects. The fee for filing a financing statement is increased from $10 to $20. The bill has an effective date of July 1, 2001. Article 9 is the product of the National Conference of Commissioners of Uniform State Laws.

Full text:
01/24/00  House: Presented & ordered printed 001891996  pdf
02/10/00  House: Committee substitute printed 000043996-H1  pdf
03/14/00  House: Bill text as passed House and Senate (HB1204ER)  pdf
05/05/00  Governor: Acts of Assembly Chapter text (CHAP1007)  pdf

Amendments:
Senate amendments
Senate amendments engrossed

Status:
01/24/00  House: Presented & ordered printed 001891996
01/24/00  House: Referred to Committee on Corporations, Insurance and Banking
01/28/00  House: Assigned to C. I. B. sub-committee: 4
02/10/00  House: Reported from C. I. B. w/sub (25-Y 0-N)
02/10/00  House: Committee substitute printed 000043996-H1
02/11/00  House: Read first time
02/12/00  House: Read second time
02/12/00  House: Committee substitute agreed to 000043996-H1
02/12/00  House: Engrossed by House - com. sub. 000043996-H1
02/14/00  House: Read third time and passed House (Block Vote) (98-Y 0-N)
02/14/00  House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
02/14/00  House: Communicated to Senate
02/15/00  Senate: Constitutional reading dispensed
02/15/00  Senate: Referred to Committee on Commerce and Labor
02/28/00  Senate: Reported from C. & L. with amendments (14-Y 0-N)
02/29/00  Senate: Const. reading disp., passed by for the day (38-Y 0-N)
02/29/00  Senate: VOTE: CONST. RDG. DISPENSED R (38-Y 0-N)
03/01/00  Senate: Read third time
03/01/00  Senate: Reading of amendments waived
03/01/00  Senate: Committee amendments agreed to
03/01/00  Senate: Title replaced
03/01/00  Senate: Engrossed by Senate as amended
03/01/00  Senate: Passed Senate with amendments (40-Y 0-N)
03/01/00  Senate: VOTE: PASSAGE R (40-Y 0-N)
03/02/00  House: Placed on Calendar
03/03/00  House: Senate amendments agreed to by House (97-Y 1-N)
03/03/00  House: VOTE: ADOPTION (97-Y 1-N)
03/14/00  House: Bill text as passed House and Senate (HB1204ER)
03/23/00  House: Enrolled
03/24/00  House: Signed by Speaker
03/25/00  Senate: Signed by President
04/09/00  Governor: Approved by Governor-Chapter 1007 (effective 7/1/01)
05/05/00  Governor: Acts of Assembly Chapter text (CHAP1007)