Jurisdictional Updates

Article 9 and Lien-Related Legislation New York:  SB 760, which would amend UCC § 9-611(f) to add new notice requirements prior to taking any steps to dispose of collateral for a reverse cooperative apartment loan, passed the Senate on 6/8/2021.

Article 9 and Lien-Related Legislation No developments to report this week.     Other Uniform Laws Legislation No developments to report this week.     Emerging Technology Legislation (Blockchain, DLT, Cryptocurrency, etc.) Michigan: House Resolution 119 was introduced on 6/2/2021 to declare

Article 9 and Lien-Related Legislation No developments to report this week.     Other Uniform Laws Legislation Illinois:  SB 2176, which would adopt the Uniform Electronic Transactions Act, passed the House on 5/26/2021 and is pending delivery to the governor.  Emerging

New Jersey – Limited Liability Partnerships Permitted to File Alternate Name Registration Assembly Bill 4932 (Chapter 2021-100) signed by the governor and effective May 12 permits limited liability partnerships to file a certificate of registration of alternate name with the

Article 9 and Lien-Related Legislation Arizona:  The governor signed HB 2617 to amend the lien law on 5/19/2021.  The final bill addresses disposition of proceeds from the sale of homestead property subject to a lien.  The new law takes effect

South Carolina – Legislation Provides Requirements to Organize a Bank Senate Bill 467 (Act No. 30) signed by the governor and effective May 6 provides requirements to organize a bank.    https://www.scstatehouse.gov/sess124_2021-2022/bills/467.htm

Article 9 and Lien-Related Legislation Arizona: HB 2617, which would amend the lien law, passed the Senate as amended on 5/10/2021 and the House concurred shortly thereafter. The amended bill now addresses disposition of proceeds from the sale of homestead

Florida – Senate Bill Amends Business Corporation Act Senate Bill 602 signed by the governor and effective May 7 amends the Business Corporation Act relating to appraisal rights and limits to 120 days the period a dissolved entity’s name is

Colorado, Georgia, and Indiana – Legislation Passed Pertaining to Remote Meetings and Communications Colorado – House Bill 1124 signed by the governor and effective April 19 facilitates business entities’ ability to conduct business activities electronically by defining terms, including address,

Article 9 and Lien-Related Legislation North Carolina:  House Bill 850 was introduced on 5/5/2021 to provide a lien in favor of an employee for wage claims. Committee assignment is pending. Ohio: SB 49, which would create a statutory lien against