Date: 02/13/2013

Final
BILL SUMMARY for HB13-1157

HOUSE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Refer House Bill 13-1157 to the Committee of the WPASS



02:04 PM -- House Bill 13-1157 - Concerning the Uniform Commercial Code

Representative McNulty, prime sponsor, explained that House Bill 13-1157 specifies that the state's enacted version of the Uniform Commercial Code (UCC) applies to a remittance transfer that is not an electronic funds transfer under federal law. Recent changes in federal law concerning electronic funds transfers had the collateral effect of including under federal regulation certain remittance transfers, particularly those that initiate a funds transfer, but then providing no regulation of nonelectronic funds transfers. Representative McNulty closed by saying that the bill clarifies that remittance transfers are always regulated by state law if federal regulations do not apply.
BILL:HB13-1157
TIME: 02:08:43 PM
MOVED:DelGrosso
MOTION:Refer House Bill 13-1157 to the Committee of the Whole. The motion passed on a vote of 12-0.
SECONDED:Wilson
VOTE
DelGrosso
Yes
Foote
Yes
Joshi
Yes
Kagan
Yes
May
Yes
Melton
Yes
Pabon
Yes
Priola
Yes
Saine
Excused
Swalm
Yes
Wilson
Yes
Labuda
Yes
Court
Yes
Final YES: 12 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS