Business Legal Update: PA Uniform Commercial Code Updates – Part 1
Business Legal Update: Pennsylvania Uniform Commercial Code Updates – Part 1 by Thomas E. Reilly, Jr. and Tyler M. Smith
On June 27, 2013, Governor Tom Corbett signed into law Senate Bill 381, which amends several sections of Article 9 of the Pennsylvania Uniform Commercial Code. Senate Bill 381 was introduced to the Senate floor on February 5, 2013, primarily to enact the 2010 amendments to the UCC promulgated by The American Law Institute and the Uniform Law Commission. The 2010 Amendments to the Pennsylvania UCC became effective on July 1, 2013. This is the first in a three-part series of articles summarizing the more notable and relevant provisions of the 2010 Amendments.