Bill Summary  
Senate Counsel & Research
  Senate  
State of Minnesota




S.F. No. 28 - Uniform Commercial Code
Author: Senator Don Betzold
Prepared by: Kathleen Pontius, Senate Counsel (651/296-4394)
Date: January 15, 2003

This bill contains a number of revisions to the Uniform Commercial Code (UCC) recommended by the National Conference of Commissioners on Uniform State Laws. The primary articles affected by the bill are Article 1 of the UCC (general provisions), Article 3 (negotiable instruments), and Article 4 (bank deposits and collections). Following is a general overview of the provisions contained in each article of the bill draft. More detailed comments are available in the handouts accompanying the committee materials, and are also available on the website of the National Conference of Commissioners on Uniform State Laws.

Article 1

Revision of Uniform Commercial Code General Provisions

Article 1 of the UCC contains definitions and general provisions that apply to other articles of the code. Most of these proposed changes are technical and nonsubstantive and are intended to reflect revisions and amendments that have occurred in other provisions of the UCC in recent years. A few substantive amendments are included to reflect developments in the law and changes in practice in other areas.

Article 2

Conforming Amendments to Other UCC Articles

This article contains conforming amendments to other provisions in the UCC that are affected by the changes made in Article 1, such as changes in numbering and crossreferences.

Article 3

General Conforming Amendments

This article contains conforming amendments to Minnesota Statutes located outside of the UCC, consistent with the changes made in Article 1.

Articles 4 and 5

Amendments to UCC Articles 3 and 4

The amendments in these articles are part of a package of amendments intended to address a variety of issues related to check collection. The commentary to these provisions indicates that the intent of the amendments is to address areas where the need for reform appears plain and little controversy should be involved in any proposed substantive changes.

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