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CS/HB 483 — Uniform Commercial Code

by Civil Justice Subcommittee and Rep. Passidomo (SB 1090 by Senator Richter)

This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.

Prepared by: Commerce and Tourism Committee (CM)

This bill adopts the 2010 amendment to Article 9 of the Uniform Commercial Code (UCC) as prepared by the National Conference of Commissioners on Uniform State laws. The bill provides the following changes to Article 9: revises statutes governing the name of a debtor for purposes of filing a financing statement; modifies definitions; revises s. 679.301, F.S., relating to the location of debtors; modifies provisions relating to guidelines for the continued perfection of security interests that were perfected according to the law of another jurisdiction; provides rules for transition to the proposed version of Article 9; and makes numerous stylistic and grammatical changes.

If approved by the Governor, these provisions take effect July 1, 2013.

Vote: Senate 40-0; House 116-0