South Carolina is the latest state to enact the 2010 Amendments to UCC Article 9. The governor signed Senate Bill 323 on Friday, June 7, 2013. The new law provides the Alternative A “Only If” approach for individual debtor name sufficiency in § 9-503(a)(4), includes the text of the new form fields in § 9-521 and takes effect on July 1, 2013. CSC will continue to track all UCC Article 9 legislation and provide update of any significant developments. Additional resources on the 2010 Amendments to UCC Article 9, including legislative status charts, are available at http://csctransactionwatch.com/amendments/.
If you have questions or need more information on Article 9 legislation, please contact Paul Hodnefield, Associate General Counsel, at email@example.com or 800-927-9801, ext. 62375.