SB 154 (BR 1460) - R. Stivers II
AN ACT relating to Commerce.
Adopt, with some variation, recent amendments to the language of the Uniform Commercial Code published by the Editorial Board of the American Law Institute and the National Conference of Commissioners on Uniform State Laws; include language to update provisions of Article 1 which contains the general provisions applying to the entire code, to harmonize the language with ongoing UCC projects and recent revisions to other articles; include language to update provisions of Articles 2 and 2A which provide a legal framework for leases and sales of personal property, with new provisions to update and modernize the articles, reflecting recent development of business practices and accommodating electronic commerce; include language to update provisions of Articles 3 and 4 of the UCC dealing with payment by checks and other paper instruments to provide essential rules for the new technologies and practices in payment systems; include language to update Article 9 relating to secured transactions; create a new section of KRS Chapter 190 to create a non-UCC statute of limitations specific to retail installment contracts; amend various statutes to conform; repeal KRS 355.1-109, 355.1-110, 355.2-208, 355.2A-207, 378.040, and 382.675.
SB 154 - AMENDMENTS
SCA (1, R. Stivers II) - Amend to change definition to 'good faith' to that recommended by the National Conference of Commissioners on uniform state laws.
SCA (2, E. Scorsone) - Amend to delete Section 62 of the bill, relating to a statute of limitations for retail installment contracts.
SFA (1, R. Jones II) - Changes the statute of limitations for a retail installment sales contract from 6 years to 4 years as set out in Section 62 of the bill.
HCA (1, G. Lindsay) - Replace Section 62 with a new provision specifying a four-year statute of limitations on retail installment sales contracts.
Feb 3-introduced in Senate
Feb 7-to Judiciary (S)
Mar 2-reported favorably, 1st reading, to Calendar with committee amendments (1) and (2) ; floor amendment (1) filed
Mar 3-2nd reading, to Rules
Mar 7-posted for passage in the Regular Orders of the Day for Wednesday, March 8, 2006
Mar 8-3rd reading; committee amendment (2) withdrawn ; floor amendment (1) withdrawn ; passed 38-0 with committee amendment (1)
Mar 9-received in House
Mar 13-to Judiciary (H)
Mar 15-posted in committee
Mar 22-reported favorably, 1st reading, to Calendar with committee amendment (1)
Mar 23-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Friday, March 24, 2006
Mar 24-3rd reading, passed 93-0 with committee amendment (1) ; received in Senate
Apr 10-posted for passage for concurrence in House committee amendment (1) as a Consent Bill; Senate concurred in House committee amendment (1) ; passed 37-0; enrolled, signed by President of the Senate
Apr 11-enrolled, signed by Speaker of the House; delivered to Governor
Apr 22-signed by Governor (Acts ch. 242)