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Colorado Introduces the 2010 Amendments to UCC Article 9

The Colorado House introduced legislation on Tuesday, February 7, 2012 to enact the 2010 Amendments to UCC Article 9.  House Bill 1262 provides the Alternative B “Safe Harbor” 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 Section 9-521.  Instead,Coloradowill retain its current non-uniform provision, which requires a filing office to accept a written record in a form and format adopted by the secretary of state. The bill does not appear to contain any other significant non-uniform provisions.

CSC will provide updates for any significant developments with HB 1262 and all other state Article 9 legislation.