HOUSE BILL REPORT

HB 2633

BYRepresentatives Appelwick, P. King and Valle

Amending the uniform commercial code.

House Committe on Judiciary

Majority Report:  Do pass.  (15)

      Signed by Representatives Appelwick, Chair; Crane, Vice Chair; Padden, Ranking Republican Member; Dellwo, Forner, Hargrove, Inslee, P. King, R. Meyers, Moyer, H. Myers, Schmidt, Scott, Tate and Wineberry.

House Staff:Regina Jones (786-7191)

AS PASSED HOUSE FEBRUARY 12, 1990

BACKGROUND:

Article 1-201 of the Washington Uniform Commercial Code sets out certain definitions used in the Uniform Commercial Code.  The National Conference of Commissioners on Uniform State Laws proposes modifications and clarifications of the Uniform Commercial Code and other uniform laws.  In the summer of 1989, the Conference adopted amendments to article 1-201 of the Uniform Commercial Code.  The amendments are intended to provide conformity with proposed new text and amendments in Uniform Commercial Code Articles 3 and 4A.

SUMMARY:

The definition of "holder" is clarified with respect to instruments, securities or documents of title.

The definition of "money" is modified to include a medium of exchange authorized by an intergovernmental organization.

A reference to "indorsement" is deleted from the definition of "unauthorized" signature.

Fiscal Note:      Not Requested.

House Committee ‑ Testified For:    No one.

House Committee - Testified Against:      No one.

House Committee - Testimony For:    None.

House Committee - Testimony Against:      None.