Bill Summary for Bill Number HB06-1247

Date: 03/06/2006

Final
BILL SUMMARY for HB06-1247

HOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABOR

Votes: View-->	Action Taken:
Moved amendment L.001 (Attachment F). The motion Moved to refer House Bill 06-1247, as amended, to	Pass Without Objection PASS

05:09 PM -- House Bill 06-1247

Representative Cerbo, prime sponsor, presented House Bill 1247, concerning the adoption of changes to the Uniform Commercial Code (UCC). Representative Cerbo explained that the bill came out of the National Conference of Commissioners on Uniform State Laws, a bi-partisan committee of which he is a member. He stated that the bill would update Article 1, that deals with general provisions of the UCC, and Article 7, that deals with documents of title. The update is necessary due to advancements in electronic technology. He discussed amendment L.001 (Attachment F). The amendment addresses an issue the Colorado Bankers Association had with the bill regarding choice of forum. There was committee discussion about the provision of the bill that deals with an option to accelerate at will.


BILL:	HB06-1247
TIME:	05:22:30 PM
MOVED:	Cerbo
MOTION:	Moved amendment L.001 (Attachment F). The motion passed without objection.
SECONDED:	Paccione
		VOTE
	Balmer
	Borodkin
	Butcher
	Carroll M.
	Coleman
	Knoedler
	Liston
	McCluskey
	Paccione
	Penry
	Welker
	Cerbo
	Marshall
Not Final YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:	HB06-1247
TIME:	05:23:51 PM
MOVED:	Cerbo
MOTION:	Moved to refer House Bill 06-1247, as amended, to the Committee of the Whole. The motion passed 12-0.
SECONDED:	Paccione
		VOTE
	Balmer	Excused
	Borodkin	Yes
	Butcher	Yes
	Carroll M.	Yes
	Coleman	Yes
	Knoedler	Yes
	Liston	Yes
	McCluskey	Yes
	Paccione	Yes
	Penry	Yes
	Welker	Yes
	Cerbo	Yes
	Marshall	Yes
Final YES: 12 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS