The Florida Senate

HB 515: UCC/Letters of Credit

GENERAL BILL by Green

UCC/Letters of Credit; revises article 5 of Uniform Commercial Code re letters of credit; provides formal requirements; provides that consideration is unnecessary; provides for issuance, amendment, cancellation, & duration; specifies rights & obligations of confirmers, nominated persons, & advisers; provides issuer's rights & obligations; provides procedures for counteracting fraud & forgery, etc. Amends 95.11, 671.105, 672.512, 675.101-.117, 679.103-.106,.304,.305.

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• Bill History

  Date	Chamber	Action
  1/29/1999	House	• Prefiled
  2/4/1999	House	• Referred to Judiciary (CJC); Financial Services (CAC)
  2/26/1999	House	• On Committee agenda-- Judiciary (CJC), 03/03/99, 1:00 pm, Morris Hall
  3/2/1999	House	• Introduced, referred to Judiciary (CJC); Financial Services (CAC) -HJ 00051; On Committee agenda-- Judiciary (CJC), 03/03/99, 1:00 pm, Morris Hall
  3/3/1999	House	• Comm. Action: Unanimously Favorable with 1 amendment(s) by Judiciary (CJC) -HJ 00180
  3/4/1999	House	• Now in Financial Services (CAC) -HJ 00180
  3/15/1999	House	• On Committee agenda-- Financial Services (CAC), 03/17/99, 1:00 pm, 212-HOB
  3/17/1999	House	• Comm. Action:-Unanimously Favorable by Financial Services (CAC) -HJ 00381
  3/18/1999	House	• Placed on calendar, available for General Calendar -HJ 00381
  3/30/1999	House	• Placed on General Calendar; Retained on General Calendar
  4/6/1999	House	• Placed on General Calendar; Read second time -HJ 00494; Amendment(s) adopted -HJ 00494
  4/8/1999	House	• Senate Bill substituted; Laid on Table, Iden./Sim./Compare Bill(s) passed, refer to CS/CS/SB 740 (Ch. 99-137) -HJ 00531

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• HB 515, Engrossed 1 (Current Bill Version) Posted 8/28/2000 at 9:26 AM

  Bill Text:	Web Page | PDF

  Analyses:	None

  Related Bills (1)

  Bill Number	Subject	Filed By	Relationship	Last Action and Location
  S 740 (c2)		Campbell	Similar	Last Action: 4/22/1999 Approved by Governor; Chapter No. 99-137 -SJ 00887 Location:

  Citations - Statutes (26)

  Citation	Catchline	Location in Bill Location In Bill Help
  95.11	Limitations other than for the recovery of real property.
  671.105	Territorial application of the code; parties' power to choose applicable law.
  672.512	Payment by buyer before inspection.
  675.101	Short title.
  675.102	Scope.
  675.103	Definitions.
  675.104	Formal requirements; signing.
  675.105	Consideration.
  675.106	Time and effect of establishment of credit.
  675.107	Advice of credit; confirmation; error in statement of terms.
  675.108	"Notation credit"; exhaustion of credit.
  675.109	Issuer's obligation to its customer.
  675.110	Availability of credit in portions; presenter's reservation of lien or claim.
  675.111	Warranties on transfer and presentment.
  675.112	Time allowed for honor or rejection; withholding honor or rejection by consent; "presenter."
  675.113	Indemnities.
  675.114	Issuer's duty and privilege to honor; right to reimbursement.
  675.115	Remedy for improper dishonor or anticipatory repudiation.
  675.116	Transfer and assignment.
  675.117	Insolvency of bank holding funds for documentary credit.
  679.103	Perfection of security interests in multiple state transactions.
  679.104	Transactions excluded from chapter.
  679.105	Definitions and index of definitions.
  679.106	Definitions
  679.304	Perfection of security interest in instruments, documents, and goods covered by documents; perfection by permissive filing; temporary perfection without filing or transfer of possession.
  679.305	When possession by secured party perfects security interest without filing.

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• HB 515, Original Filed Version Posted 8/28/2000 at 9:26 AM

  Bill Text:	Web Page | PDF

  Analyses:	Financial Services (Post-Meeting) 3/15/1999 (pdf) Financial Services (Post-Meeting) 3/18/1999 (pdf) Judiciary (Post-Meeting) 2/15/1999 (pdf) Judiciary (Post-Meeting) 3/4/1999 (pdf) Judiciary (Post-Meeting) 5/4/1999 (pdf)

  Committee Amendments (1)

  Amendment	Sponsor	Filed	Last Committee Action	Format
  331151 - Amendment	Judiciary	3/30/1999 12:44 AM		Web Page PDF

  Citations - Statutes (25)

  Citation	Catchline	Location in Bill Location In Bill Help
  671.105	Territorial application of the code; parties' power to choose applicable law.
  672.512	Payment by buyer before inspection.
  675.101	Short title.
  675.102	Scope.
  675.103	Definitions.
  675.104	Formal requirements; signing.
  675.105	Consideration.
  675.106	Time and effect of establishment of credit.
  675.107	Advice of credit; confirmation; error in statement of terms.
  675.108	"Notation credit"; exhaustion of credit.
  675.109	Issuer's obligation to its customer.
  675.110	Availability of credit in portions; presenter's reservation of lien or claim.
  675.111	Warranties on transfer and presentment.
  675.112	Time allowed for honor or rejection; withholding honor or rejection by consent; "presenter."
  675.113	Indemnities.
  675.114	Issuer's duty and privilege to honor; right to reimbursement.
  675.115	Remedy for improper dishonor or anticipatory repudiation.
  675.116	Transfer and assignment.
  675.117	Insolvency of bank holding funds for documentary credit.
  679.103	Perfection of security interests in multiple state transactions.
  679.104	Transactions excluded from chapter.
  679.105	Definitions and index of definitions.
  679.106	Definitions
  679.304	Perfection of security interest in instruments, documents, and goods covered by documents; perfection by permissive filing; temporary perfection without filing or transfer of possession.
  679.305	When possession by secured party perfects security interest without filing.

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