UCC ART. 9 REVISIONS: CONFORMITY - H.B. 5402-5417: FLOOR ANALYSIS

House Bills 5402 through 5417 (as reported without amendment)

Sponsor: Representative Jim Howell (House Bill 5402)

Representative Charles LaSata (House Bill 5403)

Representative Mike Bishop (House Bill 5404)

Representative Jack Minore (House Bill 5405)

Representative Joanne Voorhees (House Bill 5406)

Representative Bruce Patterson (House Bill 5407)

Representative Michael Switalski (House Bill 5408)

Representative Marc Shulman (House Bill 5409)

Representative Alan Sanborn (House Bill 5410)

Representative Jennifer Faunce (House Bill 5411)

Representative Janet Kukuk (House Bill 5412)

Representative Doug Hart (House Bill 5413)

Representative James Koetje (House Bill 5414)

Representative Gloria Schermesser (House Bill 5415)

Representative Laura Baird (House Bill 5416)

Representative Gerald Law (House Bill 5417)

House Committee: Family and Civil Law

Senate Committee: Financial Services


CONTENT


The bills would amend various statutes that cite sections of the Uniform Commercial Code, to bring those citations into conformity with the changes to Article 9 proposed by House Bill 5228. House Bills 5402 through 5417 would amend, respectively, the Vietnam Veteran Era Bonus Act; the Revenue Bond Act; the Uniform Federal Lien Registration Act; the State Tax Lien Registration Act; the Michigan Vehicle Code; Public Act 387 of 1978 (which provides for State loans to certain motor carriers); the Grain Dealers Act; the Higher Education Facilities Authority Act; Public Act 289 of 1976 (which involves the financing of student loan programs); the Farm and Utility Equipment Act; the Business Corporation Act; the Nonprofit Corporation Act; the Savings Bank Act; the Savings and Loan Act; the Motor Vehicle Sales Finance Act; and the Uniform Fraudulent Transfer Act.


House Bills 5404, 5405, 5407, 5408, 5414, 1516, and 5417 would take effect on July 1, 2001, and are tie-barred to House Bill 5228.


MCL 35.1037 (H.B. 5402)

141.114 (H.B. 5403)

211.665 (H.B. 5404)

211.684 (H.B. 5405)

257.58b (H.B. 5406)

257.934 (H.B. 5407)

285.67a (H.B. 5408)

390.931 (H.B. 5409)

390.1355 (H.B. 5410)

445.1459 (H.B. 5411)

450.1471 (H.B. 5412)

450.2471 (H.B. 5413)

487.3501 (H.B. 5414)

491.420 (H.B. 5415)

492.114 (H.B. 5416)

566.38 (H.B. 5417)

777.14 (H.B. 5758)

- Legislative Analyst: S. LoweFISCAL IMPACT


The bills would have no fiscal impact on State or local government.



Date Completed: 11-17-00 - Fiscal Analyst: J. Runnels

floor\hb5402 - Analysis available @ http://www.michiganlegislature.org

This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.