National Conference of Commissioners on Uniform State Laws

211 E. Ontario St., Suite 1300, Chicago, IL 60611
tel 312-915-0195, fax 312-915-0187

For Immediate Release

UNIFORM LAW GROUP TO MEET IN TUCSON
New Securities Law Among Acts Scheduled for Completion

July 23, 2002—A busy agenda of legislative drafts dealing with issues ranging from alternative methods of taking child witness testimony to securities law, as well as revisions to the Uniform Commercial Code, awaits the National Conference of Commissioners on Uniform State Laws (NCCUSL) at its 2002 Annual Meeting, scheduled for Tucson, Arizona, July 26 through August 2.

NCCUSL, now in its 111th year, comprises more than 300 lawyers, judges, law professors, legislators and other state officials from every state, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Commissioners are appointed by their states to draft and promote enactment of uniform laws that are designed to solve problems common to all the states.

A uniform act must be considered at two annual meetings by all commissioners before it can be approved. After receiving NCCUSL's seal of approval, a uniform act is officially promulgated for consideration by the states, and legislatures are urged to adopt it. Since its inception, NCCUSL has been responsible for more than 200 acts, among them such bulwarks of state statutory law as the Uniform Commercial Code, the Uniform Probate Code and the Uniform Controlled Substances Act.

One of the acts the commissioners will consider for final approval in Tucson deals with securities law. The Uniform Securities Act is a complete revision of earlier Uniform Securities Acts from 1956 and 1985. This act, like its predecessors, gives state securities regulators broad powers to investigate, prosecute and sanction individuals and firms that engage in securities transactions. The new act includes provisions prohibiting fraud in the sale of securities, registration requirements for brokers and dealers, sanctions and civil liabilities, and criminal penalties.

Another act the commissioners will consider for final approval deals with the issue of child witness testimony. The Uniform Child Witness Testimony by Alternative Methods Act provides procedures in taking the testimony of children in criminal or non-criminal proceedings, permitting a child to testify outside the courtroom and outside the immediate presence of a criminal defendant.

A new act addressing the subject of tort claims is scheduled for final approval. The Uniform Apportionment of Tort Responsibility Act sets out rules to allocate financial responsibility among multiple parties liable to others for negligent or willful misconduct.

The Uniform Nonjudicial Foreclosure Act provides procedures for mortgage foreclosures without judicial involvement. It is a distinct and separate mortgage foreclosure statute, intended to facilitate the sale and resale of secured real estate loans.

Amendments to the Uniform Commercial Code are also scheduled for final approval. UCC Article 2, which applies to the sale of tangible goods, and UCC Article 2A, which applies to lease contracts, have been amended to conform with modern business practices, including electronic commerce. Amendments to UCC Articles 3 and 4, dealing with check-clearance issues, are also ready for final approval. The Uniform Commercial Code is a joint project of NCCUSL and the American Law Institute.

Amendments to the Uniform Computer Information Transactions Act, the Uniform Interstate Enforcement of Domestic Violence Protection Orders Act, the Uniform Disclaimers of Property Interests Act and the Uniform Probate Code are also scheduled for final approval.

The following acts will be debated:
Uniform Environmental Covenants Act
Uniform Conversion or Merger of Different Types of Business Organizations Act

For further information on NCCUSL, or for current information about any acts or committees, please visit our Web site at www.nccusl.org.

The National Conference of Commissioners on Uniform State Laws is now in its 111th year. The organization comprises more than 300 lawyers, judges, and law professors, appointed by the states as well as the District of Columbia, Puerto Rico, and the U.S. Virgin Islands, to draft proposals for uniform and model laws and work toward their enactment in their legislatures. Since its inception in 1892, the group has promulgated more than 200 acts, among them such bulwarks of state statutory law as the Uniform Commercial Code, the Uniform Probate Code, and the Uniform Partnership Act.

For further information, please contact John McCabe or Katie Robinson at 312-915-0195, or Gabrielle Bamberger at 212-333-5222.