Bill No.:                     HB0003                                 Drafter:  LGC

 

LSO No.:                   13LSO-0010                         Effective Date:  7/1/2013

 

Enrolled Act No.:    HEA0012

 

Chapter No.:            CH0030

 

Prime Sponsor:       Joint Corporations, Elections and Political Subdivisions Interim Committee

 

Catch Title:              Effective financing statements-duration.

 

Subject:                     Financing statements filed under the Uniform Commercial Code.

 

 

Summary/Major Elements:

 

·        Under current law, a financing statement filed under the Uniform Commercial Code is effective for five years and a continuation statement is effective for five years.

 

·        This act extends the effective period for financing statements and continuation statements filed after July 1, 2013, to ten years.