Report from the ULC Midyear Meeting

Members of the ULC Scope and Program and Executive Committees participated in the 2016 ULC Midyear Meeting, conducted at Amelia Island, Florida.

At the meeting, two new drafting committees, three new study committees and a new monitoring committee, were authorized.

Acting on the recommendations of the Standing Committee on the Uniform Commercial Code and the Permanent Editorial Board for the Uniform Commercial Code, Scope and Program recommended, and the Executive Committee authorized, the appointment of a drafting committee to develop amendments to Article 3 of the UCC with conforming amendments to Articles 1 and 9, to provide the substantive commercial law rules required to support a national electronic registry for mortgage notes. The American Law Institute, the ULC’s partner in drafting the UCC, has also agreed to proceed with this drafting project.

The work of this drafting committee will need to be very closely coordinated with the work of the existing drafting committee on Electronic Registry for Residential Mortgage Notes. I am exploring whether the drafting should have separate, overlapping or identical membership. We also need to coordinate our effort with our UCC partner, the American Law Institute.

The second drafting committee, approved conditionally, is intended to harmonize the law of Caribbean Nations and the U.S. on the Enforcement of Child Custody and Support Orders. The conditions of the approval are that a sufficient number of Caribbean nations demonstrate commitment to the project and that external funding be identified to support the project.

The new study committees all have technology connections. They include a committee to study the feasibility of state legislation on identity management in electronic commerce, one to study the need and feasibility of state legislation relating to event data recorders in cars, and a committee to study legislation concerning the trust management of donated funds to individuals and families, in particular through crowd funding.

A new monitoring committee was authorized to cover the subject of Criminal Justice reform. This Committee will be charged with staying aware of efforts to improve and reform state criminal justice systems and where appropriate, recommend model or uniform law projects.

Other action includes expanding the charge of the Drafting Committee on Wage Garnishment to extend the protections of the Act to include earnings deposited in bank accounts.

The Executive Committee referred proposed technical corrections and crowdfunding provisions from the federal JOBS (Jumpstart our Business Startups) Act to the Reporter or Chair of the Uniform Securities Act to consider whether to recommend amendment of the Act to the Executive Committee under Section 4.3(b)(3) of the Constitution.

Rich

Richard T. Cassidy, President, ULC

 

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Report from the ULC Midyear Meeting

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