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House Co-Sponsorship Memoranda
House of Representatives
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | December 22, 2022 10:08 AM |
|---|---|
| From: | Representative Liz Hanbidge |
| To: | All House members |
| Subject: | Updating the Uniform Commercial Code |
| To properly conduct interstate business transactions, uniformity of law is essential. Adopted as a comprehensive set of laws, the Uniform Commercial Code is a uniformly adopted state law known as the backbone of American commerce. These state laws allow businesses to enter contracts with confidence, knowing the terms will be enforced in the same manner by courts in all jurisdictions in America. This helps businesses to grow and the economy to thrive. My legislation will amend Title 13 (Commercial Code) of the Pennsylvania Consolidated Statutes (the Commonwealth’s current Uniform Commercial Code) by adding recommended revisions from the Uniform Law Commission (ULC) to the statute. The latest revisions from the ULC were adopted and published in the second half of 2022. Ensuring the uniformity of Pennsylvania’s Uniform Commercial Code is important to the economy of the state and the ability of businesses to operate, knowing our law is in line with that of other states across the nation. It is crucial that we keep pace in updating this statute. Providing Pennsylvania business with the tools and safeguards they need to operate efficiently is important to a growing economy. I hope that you will join me in supporting businesses and maintaining a strong economy. |