SB 1666: Uniform Commercial Code
GENERAL BILL by Grall
Uniform Commercial Code; Creating the “Uniform Commercial Code—Controllable Electronic Records”; specifying when a purchaser of a controllable account or controllable payment intangible is a qualifying purchaser; specifying when a person has control of a controllable electronic record; authorizing account debtors on a controllable account or controllable payment intangible to discharge obligations under certain circumstances; specifying requirements for perfecting security interests that are enforceable and perfected before a specified date, etc.
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Bill History
Date Chamber Action 2/28/2025 Senate • Filed
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SB 1666, Original Filed Version (Current Bill Version) Posted 2/28/2025 at 8:57 AM
Bill Text: Web Page | PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills H 515 Uniform Commercial Code Gentry Similar Last Action: 2/19/2025 H Now in Civil Justice & Claims Subcommittee 
Citations - Statutes (151)
Citation Catchline Location in Bill Location In Bill Help 55.205 Effect of judgment lien. Page 131 (pdf) 90.953 Admissibility of duplicates. Page 139 (pdf) 319.27 Notice of lien on motor vehicles or mobile homes; notation on certificate; recording of lien. Page 131 (pdf) 328.0015 Definitions. Page 133 (pdf) 517.061 Exempt transactions. Page 134 (pdf) 559.9232 Definitions; exclusion of rental-purchase agreements from certain regulations. Page 135 (pdf) 563.022 Relations between beer distributors and manufacturers. Page 135 (pdf) 655.55 Law applicable to deposits in and contracts relating to extensions of credit by a deposit or lending institution located in this state. Page 137 (pdf) 668.50 Uniform Electronic Transaction Act. Page 136 (pdf) 669.101 Page 12 (pdf) 669.102 Page 12 (pdf) 669.103 Page 13 (pdf) 669.104 Page 14 (pdf) 669.105 Page 15 (pdf) 669.106 Page 18 (pdf) 669.107 Page 20 (pdf) 669.501 Page 22 (pdf) 669.502 Page 23 (pdf) 669.601 Page 23 (pdf) 669.701 Page 24 (pdf) 669.702 Page 24 (pdf) 669.703 Page 25 (pdf) 669.704 Page 26 (pdf) 669.705 Page 26 (pdf) 669.706 Page 27 (pdf) 670.103 Payment order: definitions. Page 28 (pdf) 670.201 Security procedure. Page 28 (pdf) 670.202 Authorized and verified payment orders. Page 29 (pdf) 670.203 Unenforceability of certain verified payment orders. Page 30 (pdf) 670.207 Misdescription of beneficiary. Page 31 (pdf) 670.208 Misdescription of intermediary bank or beneficiary’s bank. Page 31 (pdf) 670.21 Rejection of payment order. Page 32 (pdf) 670.211 Cancellation and amendment of payment order. Page 33 (pdf) 670.305 Liability for late or improper execution or failure to execute payment order. Page 33 (pdf) 670.601 Page 34 (pdf) 671.101 Short title; scope of chapter. Page 34 (pdf) 671.105 Territorial application of the code; parties’ power to choose applicable law. Page 34 (pdf) 671.107 Waiver or renunciation of claim or right after breach. Page 35 (pdf) 671.201 General definitions. Page 35 (pdf) 671.211 Value. Page 38 (pdf) 671.401 Page 39 (pdf) 672.102 Scope; certain security and other transactions excluded from this chapter. Page 39 (pdf) 672.103 Definitions and index of definitions. Page 145 (pdf) 672.106 Definitions: “contract”; “agreement”; “contract for sale”; “sale”; “present sale”; “conforming” to contract; “termination”; “cancellation.” Page 40 (pdf) 672.201 Formal requirements; statute of frauds. Page 41 (pdf) 672.202 Final written expression; parol or extrinsic evidence. Page 42 (pdf) 672.203 Seals inoperative. Page 43 (pdf) 672.205 Firm offers. Page 43 (pdf) 672.209 Modification, rescission, and waiver. Page 43 (pdf) 672.801 Page 44 (pdf) 673.1031 Definitions. Page 141 (pdf) 673.1041 Negotiable instrument. Page 44 (pdf) 673.1051 Issue of instrument. Page 45 (pdf) 673.1061 Unconditional promise or order. Page 139 (pdf) 673.1151 Incomplete instrument. Page 140 (pdf) 673.4011 Signature. Page 45 (pdf) 673.6041 Discharge by cancellation or renunciation. Page 46 (pdf) 673.6051 Discharge of indorsers and accommodation parties. Page 142 (pdf) 673.702 Page 47 (pdf) 674.104 Definitions and index of definitions. Page 47 (pdf), Page 146 (pdf) 674.2101 Security interest of collecting bank in items, accompanying documents, and proceeds. Page 143 (pdf) 675.103 Definitions. Page 143 (pdf) 675.104 Formal requirements. Page 47 (pdf) 675.116 Choice of law and forum. Page 47 (pdf) 675.1181 Security interest of issuer or nominated person. Page 144 (pdf) 675.119 Page 49 (pdf) 677.102 Definitions and index of definitions. Page 49 (pdf) 677.106 Control of electronic document of title. Page 50 (pdf) 677.701 Page 53 (pdf) 678.1021 Definitions. Page 53 (pdf) 678.1031 Rules for determining whether certain obligations and interests are securities or financial assets. Page 54 (pdf) 678.1061 Control. Page 55 (pdf) 678.1101 Applicability; choice of law. Page 56 (pdf) 678.3031 Protected purchaser. Page 56 (pdf) 678.5101 Rights of purchaser of security entitlement from entitlement holder. Page 147 (pdf) 678.601 Page 56 (pdf) 679.1021 Definitions and index of definitions. Page 57 (pdf) 679.1041 Control of deposit account. Page 64 (pdf) 679.1051 Control of electronic chattel paper. Page 64 (pdf) 679.1052 Page 68 (pdf) 679.1053 Page 69 (pdf) 679.1054 Page 70 (pdf) 679.1061 Control of investment property. Page 148 (pdf) 679.1091 Scope. Page 150 (pdf) 679.1101 Security interests arising under chapter 672 or chapter 680. Page 145 (pdf) 679.2031 Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites. Page 70 (pdf) 679.2041 After-acquired property; future advances. Page 72 (pdf) 679.2071 Rights and duties of secured party having possession or control of collateral. Page 73 (pdf) 679.2081 Additional duties of secured party having control of collateral. Page 73 (pdf) 679.209 Duties of secured party if account debtor has been notified of assignment. Page 76 (pdf) 679.210 Request for accounting; request regarding list of collateral or statement of account. Page 76 (pdf) 679.3011 Law governing perfection and priority of security interests. Page 79 (pdf) 679.3041 Law governing perfection and priority of security interests in deposit accounts. Page 81 (pdf) 679.3051 Law governing perfection and priority of security interests in investment property. Page 81 (pdf) 679.3061 Law governing perfection and priority of security interests in letter-of-credit rights. Page 143 (pdf) 679.3062 Page 81 (pdf) 679.3063 Page 83 (pdf) 679.3101 When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply. Page 84 (pdf) 679.3121 Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money; perfection by permissive filing; temporary perfection without filing or Page 85 (pdf) 679.3131 When possession by or delivery to secured party perfects security interest without filing. Page 87 (pdf) 679.3141 Perfection by control. Page 88 (pdf) 679.3152 Page 89 (pdf) 679.3161 Continued perfection of security interest following change in governing law. Page 90 (pdf) 679.3171 Interests that take priority over or take free of security interest or agricultural lien. Page 91 (pdf) 679.320 Buyer of goods. Page 153 (pdf) 679.323 Future advances. Page 93 (pdf) 679.324 Priority of purchase-money security interests. Page 94 (pdf) 679.3251 Page 95 (pdf) 679.327 Priority of security interests in deposit account. Page 149 (pdf) 679.328 Priority of security interests in investment property. Page 148 (pdf) 679.329 Priority of security interests in letter-of-credit right. Page 153 (pdf) 679.330 Priority of purchaser of chattel paper or instrument. Page 96 (pdf) 679.331 Priority of rights of purchasers of instruments, documents, and securities under other articles; priority of interests in financial assets and security entitlements under chapter 678. Page 97 (pdf) 679.332 Transfer of money; transfer of funds from deposit account. Page 98 (pdf) 679.341 Bank’s rights and duties with respect to deposit account. Page 99 (pdf) 679.4041 Rights acquired by assignee; claims and defenses against assignee. Page 99 (pdf) 679.4061 Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles, and promissory notes ineffective. Page 100 (pdf) 679.4081 Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective. Page 102 (pdf) 679.509 Persons entitled to file a record. Page 102 (pdf) 679.513 Termination statement. Page 103 (pdf) 679.601 Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes. Page 104 (pdf) 679.602 Waiver and variance of rights and duties. Page 152 (pdf) 679.604 Procedure if security agreement covers real property or fixtures. Page 104 (pdf) 679.605 Unknown debtor or secondary obligor. Page 105 (pdf) 679.608 Application of proceeds of collection or enforcement; liability for deficiency and right to surplus. Page 106 (pdf) 679.611 Notification before disposition of collateral. Page 108 (pdf) 679.613 Contents and form of notification before disposition of collateral; general. Page 110 (pdf) 679.614 Contents and form of notification before disposition of collateral; consumer-goods transaction. Page 112 (pdf) 679.615 Application of proceeds of disposition; liability for deficiency and right to surplus. Page 115 (pdf) 679.616 Explanation of calculation of surplus or deficiency. Page 116 (pdf) 679.619 Transfer of record or legal title. Page 119 (pdf) 679.620 Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral. Page 119 (pdf) 679.621 Notification of proposal to accept collateral. Page 121 (pdf) 679.624 Waiver. Page 122 (pdf) 679.625 Remedies for failure to comply with article. Page 122 (pdf) 679.626 Action in which deficiency or surplus is in issue. Page 154 (pdf) 679.628 Nonliability and limitation on liability of secured party; liability of secondary obligor. Page 124 (pdf) 679.709 Priority. Page 152 (pdf) 679.901 Page 126 (pdf) 679.902 Page 126 (pdf) 680.1021 Scope. Page 126 (pdf) 680.1031 Definitions and index of definitions. Page 127 (pdf) 680.1071 Waiver or renunciation of claim or right after default. Page 128 (pdf) 680.201 Statute of frauds. Page 128 (pdf) 680.202 Final written expression: parol or extrinsic evidence. Page 129 (pdf) 680.203 Seals inoperative. Page 129 (pdf) 680.208 Modification, rescission, and waiver. Page 130 (pdf) 680.307 Priority of liens arising by attachment or levy on, security interests in, and other claims to goods. Page 154 (pdf) 680.601 Page 130 (pdf) 685.101 Choice of law. Page 138 (pdf) 727.109 Power of the court. Page 154 (pdf)