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Michigan Enacts the 2010 Amendments to UCC Article 9

Michigan enacted the 2010 Amendments to UCC Article 9 on Tuesday, April 10, 2012.  The governor signed House Bills 5081, 5082 and 5083.  Collectively, the three bills contained the 2010 Amendments to Article 9, as well as amendments to other UCC articles.  The new law enacts the Alternative A “Only If” approach for individual debtor name sufficiency in Section 9-503(a)(4), provides the text of the safe harbor form fields in Section 9-521 and will take effect on July 1, 2013.

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