STAND. COM. REP. NO.2510

Honolulu, Hawaii

, 2002

RE: S.B. No. 2291

 

 

Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Judiciary, to which was referred S.B. No. 2291 entitled:

"A BILL FOR AN ACT RELATING TO THE REVISED UNIFORM COMMERCIAL CODE ARTICLE 9 – SECURED TRANSACTIONS,"

begs leave to report as follows:

The purpose of this measure is to make technical amendments to Article 9 of the Uniform Commercial Code related to secured transactions involving agricultural liens and health-care-insurance receivables, and to provide for automatic perfection of sales of accounts involving payments of winnings in a lottery or other games of chance.

Your Committee finds that the amendments correct technical errors in Article 9, and also provide for the automatic perfection of a sale of an account that gives a right to payment of winning in a lottery or other game of chance.

As affirmed by the record of votes of the members of your Committee on Judiciary that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2291 and recommends that it pass Third Reading.

 

Respectfully submitted on behalf of the members of the Committee on Judiciary,

____________________________

BRIAN KANNO, Chair