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ID H0227
Bill
Status
3/20/2025
Primary Sponsor
Ways and Means Committee
Click for details
AI Summary
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Amends Idaho Code Section 28-9-521 to authorize the Secretary of State to prescribe the form and format for UCC financing statements and amendments, rather than specifying exact forms in statute
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Removes the specific UCC form templates (UCC1, UCC1Ad, UCC3, UCC3Ad) previously embedded in the statute, replacing them with a requirement that forms comply with Uniform Commercial Code standards
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Filing offices must accept written financing statements and amendments in the Secretary of State's prescribed format, unless rejection is authorized under Section 28-9-516(b)
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Declares an emergency and takes effect July 1, 2025
Legislative Description
Amends existing law to require the Secretary of State to prescribe certain financing statement forms in compliance with the Uniform Commercial Code.
SECURED TRANSACTIONS
Last Action
Reported Signed by Governor on March 19, 2025 Session Law Chapter 111 Effective: 07/01/2025
3/20/2025