Uniform Commercial Code: 2022 Amendments — New Article 12 & Old Article 9 (Interview #3)

By: Donald L Swanson

This video interview provides information about about the 2022 amendments to the Uniform Commercial Code (“UCC”). It is the third of three interviews with Edwin Smith about the 2022 UCC amendments:

• The first interview is linked here; and
• The second interview is linked here.

Edwin Smith is an expert on the 2022 UCC amendments because he chaired the Drafting Committee of the Uniform Law Commission that produced the 2022 UCC amendments.

Ed is also a partner with the Morgan Lewis law firm of New York and Boston and is a Commissioner for Massachusetts with the Uniform Law Commission.

In this video, Edwin Smith addresses these three subjects about the 2022 UCC amendments:

1. How do the new Article 12 on “Controllable Electronic Records” and the old Article 9 on “Secured Transactions” relate to each other?
2. Two countries — El Salvador and the Central African Republic — have adopted Bitcoin as their fiat currency. How does that affect the 2022 UCC amendments?
3. What other changes in the 2022 UCC amendments should we know about?

Here’s a huge “thank you” to Edwin Smith for providing help and guidance, in all three interviews, on the details and complexities of the 2022 UCC amendments!

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