Open Access. Powered by Scholars. Published by Universities.®
Uniform Law Commission; ULC; Wyoming; Legislation; Digital Assets; Lobbying; Uniform Laws; Uniform Commercial Code; UCC; American Law Institute; ALI; Emerging Technologies; Blockchain Technology; Cryptocurrency; Take-Free Rule; Choice of Law; Virtual Currency; Nebraska; Texas; Idaho; Utah
Articles 1 - 1 of 1
Full-Text Articles in Law
Achieving Law Reform Sometimes Requires A Strong Defense, William H. Henning
Achieving Law Reform Sometimes Requires A Strong Defense, William H. Henning
Brooklyn Journal of Corporate, Financial & Commercial Law
In 2019, a joint drafting committee authorized by the Uniform Law Commission and the American Law Institute began work on a sweeping set of amendments to the official text of the Uniform Commercial Code (UCC) that address issues arising from emerging technologies. The amendments were approved by the sponsoring organizations at their 2022 annual meetings, and efforts are already underway to gain uniform nationwide enactment by state legislatures. The most significant changes to the UCC consist of a new Article 12 dealing with digital assets and amendments to Article 9 that facilitate the leveraging of these assets. Also in 2019, …