Clifford Chance
State Legislatures Consider UCC Article 9 Amendments
20 June 2011
In December 2008, we reported in this column about the formation by the Uniform Law Commission (also known as the National Conference of Commissions on Uniform State Laws) and the American Law Institute of a drafting committee to consider the first comprehensive set of changes to Article 9 of the Uniform Commercial Code since the amendments approved in July 1998 (which generally became effective in 2001). That proposed package of changes was finalized 18 months later, in July 2010, and in January of this year formally presented to the states for consideration and adoption. Given that almost six months have elapsed since the launch of the legislative approval process for the 2010 amendments, we thought it an opportune time to review the progress of adoption of these amendments.
This article was published on 2 June 2011, New York Law Journal - Coporate Update (Volume 245 - No.105)
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