BILL SUMMARY for SB09-084
HOUSE COMMITTEE ON STATE, VETERANS, & MILITARY AFFAIRS
|Votes: View--> ||Action Taken: |
|Moved to refer Senate Bill 09-084 to the Committee||PASS|
10:43 AM -- Senate Bill 09-084
Representative Scanlan, prime sponsor, presented Senate Bill 09-084, concerning documents related to the role of the Office of the Secretary of State as filing office for secured transactions. Representative Scanlan explained the effect of the bill.
The following persons testified regarding Senate Bill 09-084:
10:45 AM -- Mr. Brian Gryth, representing the Secretary of State, testified in favor of the bill. Mr. Gryth discussed the types of filings that would be affected by the bill, further explained the effect of the bill, and provided additional background on the need for the bill. Mr. Gryth responded to questions regarding involvement by the legal community in crafting the legislation, and how the documents affected by the bill are indexed. Mr. Gryth responded to further questions regarding the length of time involved in implementing the document filing system used by the Secretary of State.
10:53 AM -- Mr. John McCabe, representing the Colorado Bar Association, testified in favor of Senate Bill 09-084. Mr. McCabe explained a provision in the bill that will harmonize two inconsistent statutes pertaining to the ability to amend a financing statement. Mr. McCabe responded to questions regarding the ability to submit the subject filings electronically. Discussion ensued regarding the willingness of the legal community to allow electronic transactions.
No amendments to the bill were offered. Representative Scanlan provided closing remarks in favor of Senate Bill 09-084.
|TIME: || 10:58:49 AM|
|MOTION:||Moved to refer Senate Bill 09-084 to the Committee of the Whole with favorable recommendation. The motion passed on a 10-0-1 roll call vote.|
Final YES: 10 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS