Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Judiciary and Hawaiian Affairs, to which was referred S.B. No. 2701, S.D. 1, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to remedy the filing of frivolous financing statements with the Bureau of Conveyances by providing a nonjudicial procedure to terminate a financing statement that was filed without the authorization of the debtor.

The Department of the Attorney General, the Department of Land and Natural Resources, and Hawaii's Commission to Promote Uniform Legislation testified in support of this measure.

As affirmed by the record of votes of the members of your Committee on Judiciary and Hawaiian Affairs that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2701, S.D. 1, H.D. 1, and recommends that it pass Third Reading.