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MO SB1097
Bill
AI Summary
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Repeals and replaces 64 sections of Missouri's Uniform Commercial Code, updating Article 1 (General Provisions) and Article 7 (Documents of Title) to align with modernized uniform law standards
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Adds new definitions and updates existing terminology throughout the UCC, including expanded definitions for "good faith" (now requiring both honesty in fact and observance of reasonable commercial standards), "record," "sign," and "consumer"
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Incorporates provisions for electronic documents of title, establishing rules for control of electronic documents, conversion between tangible and electronic formats, and treatment of electronic warehouse receipts and bills of lading
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Updates warehouse and carrier lien provisions, including adding warehouse lien effectiveness against household goods when the depositor was the legal possessor at time of deposit
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Modifies the federal Electronic Signatures in Global and National Commerce Act (E-SIGN) to the extent permitted, while preserving certain consumer notice protections under federal law
Legislative Description
Modifies provisions relating to the Uniform Commercial Code
Last Action
Hearing Conducted S Judiciary and Civil and Criminal Jurisprudence Committee
4/5/2016