The North Carolina legislature introduced a pair of bills on Tuesday, May 22, 2012, to enact the 2010 Amendments to UCC Article 9. House Bill 1068 and Senate Bill 844 appear identical. The legislation provides for the Alternative A “Only If” approach for individual debtor name sufficiency in Section 9-503(a)(4), incorporates images of the safe harbor forms in Section 9-521 and adopts the uniform effective date of July 1, 2013.
Any bill can be amended throughout the legislative process. CSC will continue to provide updates for any significant developments with the North Carolina bills and all other state Article 9 legislation.
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