The governor signed Senate Bill 138 on 6/3/2015 to enact several UCC measures. The bill originally contained just economic development measures and, consequently, managed to slip through the tracking system. However, during the legislative process, the bill was amended to include several UCC amendments, including the amendments to § 4A-108 that clarify the relationship of the federal Electronic Funds Transfer Act and Revised Article 7. The new law took effect immediately. However, it applies only to documents of title issued or bailments that arise on or after the effective date.
Vermont – SB 138 Effective Immediately, Amends UCC Laws