Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Judiciary, to which was referred H.B. No. 1825, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to make technical amendments to Article 9 of the Uniform Commercial Code (UCC) in Chapter 490, Hawaii Revised Statutes to maintain consistency with other state UCC statutes.

Testimony in support of this measure was received from the Commission to Promote Uniform Legislation.

Your Committee finds that the revision of Article 9 was a five-year drafting project of the National Conference of Commissioners on Uniform State Laws, and because of the complexities of the project, there were some errors and ambiguities that had not been detected until after the enactment of Revised Article 9 in the various states. This measure corrects these technical errors and provides consistency in the perfection of various security interests. These amendments will maintain uniformity with Revised Article 9, which has been adopted in all other states and the District of Columbia.

As affirmed by the record of votes of the members of your Committee on Judiciary that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1825, H.D. 1, and recommends that it pass Third Reading.