News & Analysis as of

Uniform Commercial Code (UCC) New Legislation

Vinson & Elkins LLP

“Mini-HSR Acts” Multiply in the States; Merger Enforcement Developments in Washington, Colorado and More

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Parties to transactions should be aware of new requirements for state-level merger reporting – so-called “mini-HSR Acts” – modeled on the Uniform Antitrust Pre-Merger Notification Act (“UAPNA”). Washington and Colorado have...more

White and Williams LLP

Uniform Law Commission Approves Uniform Assignment for Benefit of Creditors Act

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At its recently concluded annual meeting, the Uniform Law Commission (ULC) voted final approval of the Uniform Assignment for Benefit of Creditors Act (“Act”). Set forth below is a short discussion of “ABCs” as they...more

Holland & Knight LLP

Texas Governor Signs Commercial Sales-Based Financing Legislation Into Law

Holland & Knight LLP on

Texas Gov. Greg Abbott signed House Bill (HB) 700 into law on June 20, 2025, despite significant opposition from industry with respect to one critical legislative provision. This follows the legislation's approval by the...more

Holland & Knight LLP

Florida Passes New Protected Series LLC Legislation

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The Florida Legislature passed CS/SB 316 and CS/HB 403 to add Protected Series LLC provisions to the Florida Revised Limited Liability Company Act, aligning with the Uniform Protected Series Act. This makes Florida one of the...more

Cadwalader, Wickersham & Taft LLP

Digital Assets-Focused UCC Amendments Pass New York Legislature

On June 11, 2025, the New York State Senate passed a bill adopting the 2022 Amendments to the Uniform Commercial Code (UCC). The 2022 Amendments have now been passed by both houses of the New York legislature, and can be...more

Cadwalader, Wickersham & Taft LLP

Heating Up, June 2025 - 2022 Amendments Pass Both Houses of NY Legislature

Breaking news out of the New York legislature that they have passed the 2022 Amendments to the Uniform Commercial Code (UCC). The amendments would now go to the governor....more

Allen Matkins

New California Law Proscribes Using "Purchase" When A "Seller" Makes An Offer To A "Purchaser"

Allen Matkins on

Last week, Governor Gavin Newsom signed AB 2426 into law. The bill declares it unlawful for "a seller of a digital good to advertise or offer for sale a digital good to a purchaser with the terms 'buy,' 'purchase,' or any...more

Tucker Arensberg, P.C.

Pennsylvania Joins the Digital Age and Enacts Article 12 of the Uniform Commercial Code

Tucker Arensberg, P.C. on

On July 1, 2024, the Commonwealth of Pennsylvania joined twenty-three other states in adopting Uniform Commercial Code Article 12 and the accompanying amendments to the Pennsylvania Uniform Commercial Code....more

Holland & Knight LLP

Mexico Approves Bill Regarding Electronic Financial Transactions

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The Mexican Congress has approved a bill regarding promissory notes, negotiable instruments and other financial transactions using electronic means. On March 26, 2024, a decree was published in the Official Journal of the...more

Miller Canfield

Hotel Revenues Are "Rents" Under New Michigan Law

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On June 24, 2022, Michigan passed the Michigan Uniform Assignment of Rents Act (MUARA). When it did, Michigan became the first state with a Uniform Assignment of Rents Act that expands the definition of "rents" to include...more

Latham & Watkins LLP

El Salvador Christens Bitcoin as Legal Tender

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A sovereign nation’s decision to adopt Bitcoin as legal tender raises interesting questions — and legal ramifications. On June 8, 2021, El Salvador’s Legislative Assembly voted to establish Bitcoin as unrestricted legal...more

Perkins Coie

Blockchain Week in Review - March 2019 #2

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U.S. Developments - Denver to Implement Blockchain-Based Elections for Overseas Voters - Denver moves to become the second U.S. jurisdiction to implement a blockchain-based voting system for overseas voters. Active duty...more

Ballard Spahr LLP

NY enacts new disclosure requirements for use of auto “kill switches”

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New York has enacted legislation that requires creditors to provide new disclosures when using devices to remotely disable vehicles, commonly referred to as “kill switches.”  The new law took effect immediately upon its...more

Buchalter

California Amends Uniform Commercial Code Article 9 Regarding Name of Individual Debtor on Financing Statements

Buchalter on

The California Legislature passed, and Governor Brown signed, Assembly Bill No. 1858, which changes the way individual debtors are identified in Uniform Commercial Code financing statements. The bill brings California into...more

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