Senate Bill 67

Actions
Last Action 01/10/22: to Judiciary (S)
Title AN ACT relating to the Uniform Commercial Code.
Bill Documents Introduced
Bill Request Number 956
Sponsor B. Smith
Summary of Original Version Establish a new Article 12 of KRS Chapter 355, titled "Controllable Electronic Records"; establish definitions, scope, purchaser rights, debtor discharge obligations, control requirements, and jurisdictional rules relating to controllable electronic records; amend KRS 355.3-104, 355.3-105, and 355.3-604 to modify requirements relating to instruments; amend KRS 355.1-201 and 355.9-102 to make various definitional revisions and conforming amendments; amend KRS 355.4-406 to modify bank statement of account requirements; amend KRS 355.4A-103, 355.4A-201, 355.4A-202, 355.4A-203, 355.4A-207, 355.4A-208, 355.4A-210, and 355.4A-211 to modify definitions, security procedure requirements, payment order requirements, and documentation requirements relating to funds transfers; amend KRS 355.5-102 to establish a definition for "signed"; repeal and reenact KRS 355.7-106 and 355.9-105, and create new sections of Article 9 of KRS Chapter 355, to establish control requirements for an electronic copy of a document of title, a record evidencing chattel paper, intangible money, controllable accounts, and controllable payment intangibles; amend KRS 355.9-301 to establish jurisdictional rules for tangible records evidencing chattel paper; create a new section of Article 9 of KRS Chapter 355 to establish perfection and priority jurisdictional rules for controllable electronic records; amend KRS 355.9-203, 355.9-207, 355.9-208, 355.9-308, 355.9-310, 355.9-312, 355.9-316, 355.9-317, 355.9-330, 355.9-332, 355.9-406, 355.9-605, and 355.9-628, and create new sections of Article 9 of KRS Chapter 355, to govern security interests in controllable electronic records, intangible money, and chattel paper; amend KRS 355.1-204, 355.2A-103, 355.8-103, 355.9-313, 355.9-314, 355.9-331, 355.9-338, 355.9-601, 367.976, and 369.116 to conform; make technical corrections throughout.
Index Headings of Original Version Liens - Uniform Commercial Code, secured transactions, emerging technology amendments
Loans and Credit - Uniform Commercial Code, secured transactions, emerging technology amendments
Negotiable Instruments - Uniform Commercial Code, emerging technology amendments
Technical Corrections - Uniform Commercial Code, technical corrections
Uniform Laws - Uniform Commercial Code, emerging technology amendments
Banks and Financial Institutions - Uniform Commercial Code, emerging technology amendments
Contracts - Uniform Commercial Code, emerging technology amendments

Actions

Top
01/08/22
  • introduced in Senate
  • to Committee on Committees (S)
01/10/22
  • to Judiciary (S)


Last updated: 5/25/2022 2:58 PM (EDT)
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