• UCC Article 2A (True Leases of Goods) -- Significant Changes on the Way
  • November 18, 2003
  • Law Firm: King & Spalding LLP - Atlanta Office
  • The National Conference of Commissioners on Uniform State Laws and The American Law Institute have proposed amendments to UCC Article 2A. State legislatures will likely revise their existing versions of UCC Article 2A accordingly. Many of the proposed revisions are for consistency with proposed revisions to UCC Article 2 (Sales of Goods). We encourage those who make true leases of goods (not disguised sales, retained security interests, or information licenses) in the United States, or under United States law, to determine how to alter current forms, business plans, and practices to address the effects of these significant changes, before passage of the proposed revisions.