The South Carolina Senate introduced a bill on January 31, 2013 to enact the 2010 Amendments to UCC Article 9. Senate Bill 323 adopts the Alternative A “Only If” approach for individual debtor name sufficiency in Section 9-503(a)(4), provides the text of the new form fields in Section 9-521 and follows the uniform effective date of 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.