Document Type
Article
Publication Title
New York Law Journal
Publication Date
10-17-1996
Abstract
(Excerpt)
A major revision of Article 8 of the Uniform Commercial Code was passed by the New York Assembly on July 2, 1996, but did not receive Senate consideration prior to adjustment. In light of the strong support given Proposed Article 8 by the banking and securities industries, the New York State Legislature will probably give serious consideration to passage when the next legislative session begins.
Although the supporters of Proposed Article 8 have stoutly maintained that it is primarily a clarification of the existing Article 8 and that the proposed changes are insignificant, the proposal actually includes major changes that should be of concern to all investors in America’s securities markets. Without significant amendments to Proposed Article 8, investors would be profoundly disadvantaged.
Comments
Reprinted with permission from the October 17, 1996 edition of the New York Law Journal© 2019 ALM Media Properties, LLC. All rights reserved. Further duplication without permission is prohibited. ALLReprints.com – 877-257-3382 – reprints@alm.com