The Iowa House introduced a bill to enact the 2010 Amendments to UCC Article 9 on Thursday, February 2, 2012. House Study Bill 619 provides the Alternative A “Only If” approach for individual debtor name sufficiency in Section 9-503(a)(4) and adopts the uniform effective date of July 1, 2013. The bill omits the amendments to the safe harbor forms in Section 9-521 in favor of the non-uniform version currently in effect that requires filing offices to accept forms approved by the secretary of state.
CSC will provide updates for any significant developments with HSB 619 and all other state Article 9 legislation.