Spotlight Columns
Spotlight is a regular column in the joint newsletter of the UCC and Commercial Finance Committees of the American Bar Association. Its purpose is to highlight recent judicial decisions that interpret or apply the Uniform Commercial Code improperly, in the hope that other courts will avoid the same analytical mistakes. For copies of the full newsletter, click here.
Annual Commercial Law Updates
Article 9 Revisions
In summer 2008, the sponsors of the Uniform Commercial Code created a new Joint Review Committee for Article 9 of the UCC. The Joint Review Committee is charged with addressing the 40 or so issues identified in the report of an earlier study group. The Joint Review Committee held its first meeting in October, 2008, and is currently waiting for the reporter to produce draft revisions. A copy of the study report and a memorandum on the deliberations of the first meeting of the Joint Review Committee are below.
Payments Project
In the summer of 2008, the Uniform Law Commission created the Study Committee on Payment Issues. This new study committee is charged with: (i) monitoring developments at the federal level, particularly with respect to the Federal Reserve Board, Treasury Department, and Congress, concerning the regulation of financial institutions and payment systems; (ii) representing the Uniform Law Commission before those entities; (iii) presenting the advantages of maintaining a balance of state and federal regulation in these areas; and (iv) making appropriate recommendations concerning possible ULC, or joint ULC/ALI, projects in these areas.
Documents prepared by the Study Committee on Payment Issues are listed below.
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