UCITA is not part of the Uniform Commercial Code. The original intent was to develop a new article to the UCC, but that went by the boards when the American Law Institute, one of the two sponsoring organizations of the UCC, withdrew from the project. The other sponsoring organization, National Conference of Commissioners on Uniform State Laws (ULC), went forward -- renaming the draft as UCITA and passed it within ULC in July 1999 as one of its many uniform state law drafts.
Yes, it must be dealt with state-by-state.
David Rice
<drice[_at_]world.std.com>
Received on Sat Mar 18 2000 - 19:22:59 GMT
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