The Uniform Commercial Code governs security interests in collateral, including personal property and fixtures, as well as certain sales of accounts, contract rights, and chattel paper. The code, among other things, specifies requirements and procedures regarding perfecting a security interest, including the filing of a financing statement with the Secretary of State, amending a financing statement, transferring a security interest, and terminating a security interest. The code also governs the effectiveness of a security interest when a debtor changes locations to another jurisdiction.
California AB 502 (20132014) — Commercial law: secured transactions.
The Uniform Commercial Code governs security interests in collateral, including personal property and fixtures, as well as certain sales of accounts, contract rights, and chattel paper. The code, among other things, specifies requirements and procedures regarding perfecting a security interest, including the filing of a financing statement with the Secretary of State, amending a financing statement, transferring a security interest, and terminating a security interest. The code also governs the effectiveness of a security interest when a debtor changes locations to another jurisdiction.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
Do pass, but re-refer to the Committee on Appropriations. — 6–0 (pass) · upper
Do pass. — 7–0 (pass) · upper
Do pass as amended. — 17–0 (pass) · lower
Do pass as amended and be re-referred to the Committee on Appropriations. — 6–4 (pass) · lower
AB 502 WAGNER Assembly Third Reading — 77–0 (pass) · lower
Sponsors
Wagner — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
2013-02-20 Read first time. To print. reading-1
2013-02-21 From printer. May be heard in committee March 23.
2013-03-04 Referred to Com. on JUD. referral-committee
2013-04-01 From committee chair, with author's amendments: Amend, and re-refer to Com. on JUD. Read second time and amended. amendment-introduction, amendment-passage, reading-2, reading-1
2013-04-02 Re-referred to Com. on JUD. referral-committee
2013-04-02 In committee: Hearing postponed by committee.
2013-04-16 In committee: Set, first hearing. Hearing canceled at the request of author.
2013-04-23 In committee: Hearing postponed by committee.
2013-05-06 From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 6. Noes 4.) (April 30). committee-passage-favorable, committee-passage, amendment-passage
2013-05-07 Read second time and amended. reading-2, reading-1, amendment-passage
2013-05-09 Re-referred to Com. on APPR. referral-committee
2013-05-15 In committee: Set, first hearing. Referred to APPR. suspense file. referral-committee
2013-05-24 From committee: Do pass as amended. (Ayes 17. Noes 0.) (May 24). committee-passage-favorable, committee-passage, amendment-passage
2013-05-24 Read second time and amended. Ordered to second reading. reading-2, reading-1, amendment-passage
2013-05-28 Read second time. Ordered to third reading. reading-2, reading-1
2013-05-29 Read third time. Passed. Ordered to the Senate. (Ayes 77. Noes 0. Page 1742.) reading-3, reading-1, passage
2013-05-29 In Senate. Read first time. To Com. on RLS. for assignment. reading-1
2013-06-13 Referred to Com. on JUD. referral-committee
2013-06-24 From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on JUD. amendment-introduction, amendment-passage, reading-2, reading-1, referral-committee
2013-07-03 From committee: Do pass and re-refer to Com. on APPR. (Ayes 6. Noes 0.) (July 2). Re-referred to Com. on APPR. committee-passage-favorable, referral-committee, committee-passage
2013-08-12 In committee: Placed on APPR. suspense file.
2013-08-30 From committee: Do pass. (Ayes 7. Noes 0.) (August 30). committee-passage-favorable, committee-passage
2013-09-03 Read second time. Ordered to third reading. reading-2, reading-1
2013-09-09 Read third time. Passed. Ordered to the Assembly. (Ayes 38. Noes 0. Page 2248.). reading-3, reading-1, passage
2013-09-09 In Assembly. Concurrence in Senate amendments pending. May be considered on or after September 11 pursuant to Assembly Rule 77.