Los Angeles County Bar Commercial Law and Bankruptcy Section
Prepared by: Susan R. Goldfarb, Proskauer Rose LLP
This Update focuses on the recent adoptions of amendments to the Uniform Commercial Code in California and New York
Effective January 1, 2015, California adopted the uniform version of the 2010 Amendments to Article 9 of the Uniform Commercial Code with respect to determining an individual debtor's name for purposes of filing financing statements. For a discussion of the prior law and the amendments, see the Buchalter Nemer Lender Alert "California Amends Uniform Commercial Code Article 9 Regarding Name of Individual Debtor on Financing Statements" by Neil J. Rubenstein.
On December 17, 2014, New York adopted amendments to Article 1, Article 7, Article 8, and Article 9 of the Uniform Commercial Code. These include changes for individual debtor names on a financing statement. For a discussion of the amendments and New York's non uniform provisions, see the Morgan Lewis, Business and Finance Lawflash "2014 Changes to the New York Uniform Commercial Code" by Alan W. Beloff, Matthew F. Furlong, Marc R. Leduc, and Edwin E. Smith.