CS/HB 515: Uniform Commercial Code
GENERAL BILL by Civil Justice & Claims Subcommittee ; Gentry
Uniform Commercial Code; Specifies when purchaser of controllable account or controllable payment intangible is qualifying purchaser; specifies rights acquired relating to controllable electronic records; prohibits actions from being asserted against qualifying purchasers; specifies that filing certain financial statement is not notice of claim of property right in controllable electronic record; authorizes account debtors on controllable account or controllable payment intangible to discharge obligations.
Effective Date: 7/1/2025
Last Action: 3/14/2025 House - 1st Reading (Committee Substitute 1)
Bill Text: PDF
Last Action: 3/14/2025 House - 1st Reading (Committee Substitute 1)
Bill Text: PDF
Bill History
| Date | Chamber | Action |
|---|---|---|
| 2/10/2025 | House |
• Filed |
| 2/19/2025 | House |
• Referred to Civil Justice & Claims Subcommittee • Referred to Commerce Committee • Referred to Judiciary Committee • Now in Civil Justice & Claims Subcommittee |
| 3/4/2025 | House |
• 1st Reading (Original Filed Version) |
| 3/11/2025 | House |
• Added to Civil Justice & Claims Subcommittee agenda |
| 3/13/2025 | House |
• Favorable with CS by Civil Justice & Claims Subcommittee • Reported out of Civil Justice & Claims Subcommittee • Laid on Table under Rule 7.18(a) • CS Filed |
| 3/14/2025 | House |
• Referred to Commerce Committee • Referred to Judiciary Committee • Now in Commerce Committee • 1st Reading (Committee Substitute 1) |
Related Bills
| Bill Number | Subject | Filed By | Relationship | Last Action and Location | Track Bills |
|---|---|---|---|---|---|
| S 1666 | Uniform Commercial Code | Grall | Similar | Last Action: 3/12/2025 S On Committee agenda-- Commerce and Tourism, 03/17/25, 1:30 pm, 110 Senate Building |
|
Committee Amendments
| Amendment | Sponsor | Filed | Last Committee Action | Format |
|---|---|---|---|---|
|
179381 - Amendment Remove lines 1047-1055 |
Gentry |
3/12/2025 3:50 PM |
Adopted
3/13/2025 |
|
|
750269 - Amendment Remove lines 1693-1694 and insert: |
Gentry |
3/12/2025 3:51 PM |
Adopted
3/13/2025 |
|
|
187519 - Amendment Remove line 2179 and insert: |
Gentry |
3/12/2025 3:52 PM |
Adopted
3/13/2025 |
Floor Amendments
No Floor Amendments Available
Bill Analyses
| Type | Analysis | Author | Posted | Format |
|---|---|---|---|---|
| Bill Analysis | H 515 | Civil Justice & Claims Subcommittee (Post-Meeting) | 3/13/2025 5:43 PM |
Vote History - Committee
No Committee Vote History AvailableVote History - Floor
No Vote History AvailableCitations - Statutes (152)
| Citation | Catchline | Location in Bill Location In Bill Help |
|---|---|---|
| 55.205 | Effect of judgment lien. | Page 153 (pdf) |
| 90.953 | Admissibility of duplicates. | Page 162 (pdf) |
| 319.27 | Notice of lien on motor vehicles or mobile homes; notation on certificate; recording of lien. | Page 153 (pdf) |
| 328.0015 | Definitions. | Page 156 (pdf) |
| 517.061 | Exempt transactions. | Page 157 (pdf) |
| 559.9232 | Definitions; exclusion of rental-purchase agreements from certain regulations. | Page 157 (pdf) |
| 563.022 | Relations between beer distributors and manufacturers. | Page 158 (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 159 (pdf) |
| 668.50 | Uniform Electronic Transaction Act. | Page 158 (pdf) |
| 669.101 | Page 14 (pdf) | |
| 669.102 | Page 14 (pdf) | |
| 669.103 | Page 16 (pdf) | |
| 669.104 | Page 16 (pdf) | |
| 669.105 | Page 18 (pdf) | |
| 669.106 | Page 20 (pdf) | |
| 669.107 | Page 23 (pdf) | |
| 669.501 | Page 26 (pdf) | |
| 669.502 | Page 26 (pdf) | |
| 669.601 | Page 27 (pdf) | |
| 669.701 | Page 27 (pdf) | |
| 669.702 | Page 28 (pdf) | |
| 669.703 | Page 29 (pdf) | |
| 669.704 | Page 30 (pdf) | |
| 669.705 | Page 31 (pdf) | |
| 669.706 | Page 31 (pdf) | |
| 670.103 | Payment order: definitions. | Page 32 (pdf) |
| 670.201 | Security procedure. | Page 33 (pdf) |
| 670.202 | Authorized and verified payment orders. | Page 33 (pdf) |
| 670.203 | Unenforceability of certain verified payment orders. | Page 35 (pdf) |
| 670.207 | Misdescription of beneficiary. | Page 36 (pdf) |
| 670.208 | Misdescription of intermediary bank or beneficiary’s bank. | Page 36 (pdf) |
| 670.21 | Rejection of payment order. | Page 37 (pdf) |
| 670.211 | Cancellation and amendment of payment order. | Page 38 (pdf) |
| 670.305 | Liability for late or improper execution or failure to execute payment order. | Page 38 (pdf) |
| 670.601 | Page 39 (pdf) | |
| 671.101 | Short title; scope of chapter. | Page 40 (pdf) |
| 671.105 | Territorial application of the code; parties’ power to choose applicable law. | Page 40 (pdf) |
| 671.107 | Waiver or renunciation of claim or right after breach. | Page 40 (pdf) |
| 671.201 | General definitions. | Page 41 (pdf) |
| 671.211 | Value. | Page 45 (pdf) |
| 671.401 | Page 46 (pdf) | |
| 672.102 | Scope; certain security and other transactions excluded from this chapter. | Page 46 (pdf) |
| 672.103 | Definitions and index of definitions. | Page 170 (pdf) |
| 672.106 | Definitions: “contract”; “agreement”; “contract for sale”; “sale”; “present sale”; “conforming” to contract; “termination”; “cancellation.” | Page 47 (pdf) |
| 672.201 | Formal requirements; statute of frauds. | Page 49 (pdf) |
| 672.202 | Final written expression; parol or extrinsic evidence. | Page 49 (pdf) |
| 672.203 | Seals inoperative. | Page 50 (pdf) |
| 672.205 | Firm offers. | Page 50 (pdf) |
| 672.209 | Modification, rescission, and waiver. | Page 51 (pdf) |
| 672.801 | Page 51 (pdf) | |
| 673.1031 | Definitions. | Page 164 (pdf) |
| 673.1041 | Negotiable instrument. | Page 52 (pdf) |
| 673.1051 | Issue of instrument. | Page 53 (pdf) |
| 673.1061 | Unconditional promise or order. | Page 162 (pdf) |
| 673.1151 | Incomplete instrument. | Page 164 (pdf) |
| 673.4011 | Signature. | Page 53 (pdf) |
| 673.6041 | Discharge by cancellation or renunciation. | Page 54 (pdf) |
| 673.6051 | Discharge of indorsers and accommodation parties. | Page 166 (pdf) |
| 673.702 | Page 55 (pdf) | |
| 674.104 | Definitions and index of definitions. | Page 170 (pdf) |
| 674.2101 | Security interest of collecting bank in items, accompanying documents, and proceeds. | Page 167 (pdf) |
| 675.103 | Definitions. | Page 167 (pdf) |
| 675.104 | Formal requirements. | Page 55 (pdf) |
| 675.116 | Choice of law and forum. | Page 55 (pdf) |
| 675.1181 | Security interest of issuer or nominated person. | Page 168 (pdf) |
| 675.119 | Page 57 (pdf) | |
| 677.102 | Definitions and index of definitions. | Page 58 (pdf) |
| 677.106 | Control of electronic document of title. | Page 58 (pdf) |
| 677.701 | Page 61 (pdf) | |
| 678.1021 | Definitions. | Page 62 (pdf) |
| 678.1031 | Rules for determining whether certain obligations and interests are securities or financial assets. | Page 64 (pdf) |
| 678.1061 | Control. | Page 64 (pdf) |
| 678.1101 | Applicability; choice of law. | Page 65 (pdf) |
| 678.3031 | Protected purchaser. | Page 65 (pdf) |
| 678.5101 | Rights of purchaser of security entitlement from entitlement holder. | Page 171 (pdf) |
| 678.601 | Page 66 (pdf) | |
| 679.1021 | Definitions and index of definitions. | Page 66 (pdf) |
| 679.1041 | Control of deposit account. | Page 74 (pdf) |
| 679.1051 | Control of electronic chattel paper. | Page 75 (pdf) |
| 679.1052 | Page 79 (pdf) | |
| 679.1053 | Page 81 (pdf) | |
| 679.1054 | Page 82 (pdf) | |
| 679.1061 | Control of investment property. | Page 162 (pdf), Page 172 (pdf) |
| 679.1091 | Scope. | Page 175 (pdf) |
| 679.1101 | Security interests arising under chapter 672 or chapter 680. | Page 169 (pdf) |
| 679.2031 | Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites. | Page 82 (pdf) |
| 679.2041 | After-acquired property; future advances. | Page 84 (pdf) |
| 679.2071 | Rights and duties of secured party having possession or control of collateral. | Page 85 (pdf) |
| 679.2081 | Additional duties of secured party having control of collateral. | Page 85 (pdf) |
| 679.209 | Duties of secured party if account debtor has been notified of assignment. | Page 89 (pdf) |
| 679.210 | Request for accounting; request regarding list of collateral or statement of account. | Page 89 (pdf) |
| 679.3011 | Law governing perfection and priority of security interests. | Page 93 (pdf) |
| 679.3041 | Law governing perfection and priority of security interests in deposit accounts. | Page 94 (pdf) |
| 679.3051 | Law governing perfection and priority of security interests in investment property. | Page 95 (pdf) |
| 679.3061 | Law governing perfection and priority of security interests in letter-of-credit rights. | Page 166 (pdf) |
| 679.3062 | Page 95 (pdf) | |
| 679.3063 | Page 97 (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 98 (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 99 (pdf) |
| 679.3131 | When possession by or delivery to secured party perfects security interest without filing. | Page 102 (pdf) |
| 679.3141 | Perfection by control. | Page 103 (pdf) |
| 679.3152 | Page 104 (pdf) | |
| 679.3161 | Continued perfection of security interest following change in governing law. | Page 105 (pdf) |
| 679.3171 | Interests that take priority over or take free of security interest or agricultural lien. | Page 106 (pdf) |
| 679.320 | Buyer of goods. | Page 179 (pdf) |
| 679.323 | Future advances. | Page 108 (pdf) |
| 679.324 | Priority of purchase-money security interests. | Page 110 (pdf) |
| 679.3251 | Page 111 (pdf) | |
| 679.327 | Priority of security interests in deposit account. | Page 174 (pdf) |
| 679.328 | Priority of security interests in investment property. | Page 173 (pdf) |
| 679.329 | Priority of security interests in letter-of-credit right. | Page 178 (pdf) |
| 679.330 | Priority of purchaser of chattel paper or instrument. | Page 112 (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 113 (pdf) |
| 679.332 | Transfer of money; transfer of funds from deposit account. | Page 114 (pdf) |
| 679.341 | Bank’s rights and duties with respect to deposit account. | Page 115 (pdf) |
| 679.4041 | Rights acquired by assignee; claims and defenses against assignee. | Page 115 (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 116 (pdf) |
| 679.4081 | Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective. | Page 119 (pdf) |
| 679.509 | Persons entitled to file a record. | Page 119 (pdf) |
| 679.513 | Termination statement. | Page 120 (pdf) |
| 679.601 | Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes. | Page 121 (pdf) |
| 679.602 | Waiver and variance of rights and duties. | Page 178 (pdf) |
| 679.604 | Procedure if security agreement covers real property or fixtures. | Page 122 (pdf) |
| 679.605 | Unknown debtor or secondary obligor. | Page 122 (pdf) |
| 679.608 | Application of proceeds of collection or enforcement; liability for deficiency and right to surplus. | Page 123 (pdf) |
| 679.611 | Notification before disposition of collateral. | Page 126 (pdf) |
| 679.613 | Contents and form of notification before disposition of collateral; general. | Page 129 (pdf) |
| 679.614 | Contents and form of notification before disposition of collateral; consumer-goods transaction. | Page 131 (pdf) |
| 679.615 | Application of proceeds of disposition; liability for deficiency and right to surplus. | Page 135 (pdf) |
| 679.616 | Explanation of calculation of surplus or deficiency. | Page 136 (pdf) |
| 679.619 | Transfer of record or legal title. | Page 138 (pdf) |
| 679.620 | Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral. | Page 139 (pdf) |
| 679.621 | Notification of proposal to accept collateral. | Page 141 (pdf) |
| 679.624 | Waiver. | Page 142 (pdf) |
| 679.625 | Remedies for failure to comply with article. | Page 143 (pdf) |
| 679.626 | Action in which deficiency or surplus is in issue. | Page 180 (pdf) |
| 679.628 | Nonliability and limitation on liability of secured party; liability of secondary obligor. | Page 145 (pdf) |
| 679.709 | Priority. | Page 177 (pdf) |
| 679.901 | Page 147 (pdf) | |
| 679.902 | Page 147 (pdf) | |
| 680.1021 | Scope. | Page 147 (pdf) |
| 680.1031 | Definitions and index of definitions. | Page 148 (pdf) |
| 680.1071 | Waiver or renunciation of claim or right after default. | Page 149 (pdf) |
| 680.201 | Statute of frauds. | Page 149 (pdf) |
| 680.202 | Final written expression: parol or extrinsic evidence. | Page 151 (pdf) |
| 680.203 | Seals inoperative. | Page 151 (pdf) |
| 680.205 | Firm offers. | Page 151 (pdf) |
| 680.208 | Modification, rescission, and waiver. | Page 152 (pdf) |
| 680.307 | Priority of liens arising by attachment or levy on, security interests in, and other claims to goods. | Page 180 (pdf) |
| 680.601 | Page 152 (pdf) | |
| 685.101 | Choice of law. | Page 161 (pdf) |
| 727.109 | Power of the court. | Page 179 (pdf) |
Citations - Constitution (0)
No Constitutional citations.
Citations - Chapter Law (0)
No Chapter Law citations.
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