Date: 04/11/2013

Final
BILL SUMMARY for HB13-1284

HOUSE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Refer House Bill 13-1284 to the Committee of the WPASS



11:27 AM -- House Bill 13-1284 - Concerning the Uniform Commercial Code

Representative Gardner, prime sponsor, discussed the background issues that led to the changes in House Bill 13-1284. He began by noting that in 2012, the Colorado Commission on Uniform Laws recommended changes to Article 9 of the UCC, concerning secured transactions. The bill adopted at that time, House Bill 12-1262, required that financing statements identify a debtor using the name appearing on that individual's driver's license. Representative Gardner closed by saying that the bill requires the debtor party in a secured transaction governed by the Uniform Commercial Code (UCC) to be identified by the name on a Colorado state-issued identification card if the debtor does not possess a valid Colorado driver's license.

The following persons testified:

11:30 AM -- Mr. Arthur Travers, representing the Colorado Bar Association, testified in support of the bill and responded to committee questions.

11:30 AM -- Mr. John McCabe, representing the Colorado Bar Association, testified in support of the bill.

The committee discussed the definition of a "secured transaction" under the UCC and took the following action.
BILL:HB13-1284
TIME: 11:33:58 AM
MOVED:Court
MOTION:Refer House Bill 13-1284 to the Committee of the Whole. The motion passed on a vote of 9-0.
SECONDED:May
VOTE
DelGrosso
Yes
Foote
Yes
Joshi
Excused
Kagan
Yes
May
Yes
Melton
Yes
Pabon
Excused
Priola
Yes
Saine
Yes
Swalm
Excused
Wilson
Yes
Labuda
Excused
Court
Yes
Final YES: 9 NO: 0 EXC: 4 ABS: 0 FINAL ACTION: PASS