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Colorado Enacts the 2010 Amendments to UCC Article 9

Colorado is the latest state to enact the 2010 Amendments to UCC Article 9.  The governor signed House Bill 1262 on Wednesday, May 9, 2012.  The new law adopts the Alternative B “Safe Harbor” approach for individual debtor name sufficiency in Section 9-503(a)(4) and takes effect on July 1, 2013. 

The legislation omits any changes to the safe harbor form provisions in Section 9-521.  Instead, Colorado will retain its current non-uniform version that requires a filing office to accept a written record in a form and format adopted by the secretary of state. Section 9-521 will really affect only county-level filings.  The secretary of state UCC filing office will not accept written forms after May 29, 2012.

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