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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



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)