Legislature Mulls Change of Article 8; Corporate Law

New York Law Journal, Vol. 216, October 17, 1996

St. John's Legal Studies Research Paper No. 18-0025

8 Pages Posted: 14 Jun 2019

Date Written: 1996

Abstract

A major revision of Article 8 of the Uniform Commercial Code was passed by the New York Assembly on July 2, 1996, but did not receive Senate consideration prior to adjustment. In light of the strong support given Proposed Article 8 by the banking and securities industries, the New York State Legislature will probably give serious consideration to passage when the next legislative session begins.

Although the supporters of Proposed Article 8 have stoutly maintained that it is primarily a clarification of the existing Article 8 and that the proposed changes are insignificant, the proposal actually includes major changes that should be of concern to all investors in America’s securities markets. Without significant amendments to Proposed Article 8, investors would be profoundly disadvantaged.

Suggested Citation

Facciolo, Francis, Legislature Mulls Change of Article 8; Corporate Law (1996). New York Law Journal, Vol. 216, October 17, 1996, St. John's Legal Studies Research Paper No. 18-0025, Available at SSRN: https://ssrn.com/abstract=3403141

Francis Facciolo (Contact Author)

St. John's University School of Law ( email )

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Jamaica, NY 11439
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