Report on Technical Amendments to Articles 1, 7 and 9 of the Uniform Commercial Code

SUMMARY

The Committee on Commercial Law and Uniform State Laws wrote in support of legislation that would make technical corrections to conform with revisions to the Articles 1, 7 and 9 of the Uniform Commercial Code that were enacted by the State Legislature last year with the Association’s support. The 2014 legislation made important changes to modernize the Code in New York. In addition to conforming bill references to other New York state laws, the proposed legislation contains a few technical amendments to Article 9 relating to the rules for the system for filing financing statements, other clarifying changes and a transition rule.

Originally Issued May 2015; Reissued May 2016

BILL INFORMATION

S.5502-A (Sen. Farley) – makes technical corrections to Articles 1, 7 and 9 of the Uniform Commercial Code (NYS 2015-16)