UCC Update: Overview of Revisions to Missouri's UCC Articles 4A and 9

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On June 25, 2013, Governor Jay Nixon signed into law HB 212 (the “law”), which replaces various sections of Missouri’s Uniform Commercial Code (“UCC”) Article 4A and Article 9. The revisions to the UCC adopt changes in the law of secured transactions that were proposed in the Uniform Law Commission’s 2010 Amendments and are currently out for adoption in all states (as of June 25, 2013, 41 states, the District of Columbia, and Puerto Rico have enacted a version of these revisions). The law’s main provisions are summarized as follows:

• The definition of “public organic record” was added and includes records that are filed with or issued by a state or the United States to form an organization or to amend such initial filing (e.g., articles of incorporation/organization)...

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Topics:  Compliance, Local Ordinance, New Legislation, UCC

Published In: Business Organization Updates, General Business Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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