STAND. COM. REP. NO.2182

Honolulu, Hawaii

, 2002

RE: S.B. No. 3031

S.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Commerce, Consumer Protection and Housing, to which was referred S.B. No. 3031 entitled:

"A BILL FOR AN ACT RELATING TO THE UNIFORM COMMERCIAL CODE,"

begs leave to report as follows:

The purpose of this measure is to enact a new article 1 of chapter 490, Hawaii Revised Statutes (Article 1), relating to the Uniform Commercial Code (UCC).

Testimony in support of this measure was received from Hawaii's Commission to Promote Uniform Legislation.

Article 1 provides for the general administration of the UCC and covers matters such as definitions, construction, applicability, notice, performance, and remedies. Article 1, first enacted in Hawaii in 1965 and substantially unchanged since, has been adopted in all fifty states. This measure represents the latest suggested enactment, part of the necessary process of updating the law and maintaining the viability of the UCC.

Your Committee has amended this measure by making technical changes for proper drafting style.

As affirmed by the record of votes of the members of your Committee on Commerce, Consumer Protection and Housing that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 3031, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 3031, S.D. 1, and be referred to the Committee on Judiciary.

Respectfully submitted on behalf of the members of the Committee on Commerce, Consumer Protection and Housing,

____________________________

RON MENOR, Chair