PREPROPOSAL STATEMENT OF INQUIRY
Subject of Possible Rule Making: Chapter 308-390 WAC, Uniform commercial code, revised article 9.
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 62A.9-409, 60.13.040, 60.11.040, chapter 60.68 RCW.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: In May 2007, the International Association of Commercial Administrators (IACA) adopted a new set of model administrative rules. Washington's rules need to be revised in order to align with the new model, and
| • | To simplify and improve the administration of the UCC by promoting uniform filing procedures in this state and the nation; |
| • | To simplify the public's ability to discover and understand the UCC filing procedures; |
| • | To increase public access to information; and |
| • | To update terminology and make other housekeeping changes. |
Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.
Process for Developing New Rule: Meetings with representatives from the IACA. Direct notice to the Washington State Bar Association and Washington Banking Association. Communication with the public in general through the DOL/UCC web page, UCC Listserv, and mail inserts.
Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Margaret Vogeli, P.O. Box 9660, Olympia, WA 98507-9660, (360) 664-1530, fax (360) 586-4414, e-mail ucc@dol.wa.gov.
June 26, 2007
Nancy Skewis
Administrator