On August 22, 2008, Illinois Governor Rod Blagojevich signed SB2080 into law, making Illinois the 34th state to enact Revised Article 1.  As of August 30, Revised Article 1 was in effect in 33 states.  SB2080 will take effect January 1, 2009.

2008 has seen the least legislative activity on Revised Article 1 since 2004, when only four states enacted it.  The recent promulgation of a substitute § 1-301, a stumbling block for many state legislatures, may grease the skids for additional enactments next year and beyond.  On the other hand, state legislatures continue to grapple with the definition of "good faith."  Of the 34 enacting states, 23 have adopted the uniform § 1-201(b)(20) definition, while 11 have retained the pre-revised definition that imposes a different good faith standard on merchants and non-merchants.

Because Revised Article 1 continues to wend its way through the states, I continue to update the information contained in my article, The Often Imitated, But Not Yet Duplicated, Revised Uniform Commercial Code Article 1, 38 UCC L.J. 195 (2006).  The link below will take you to the most recent iteration:

The Often Imitated, But (Still) Not Yet Duplicated, Revised UCC Article 1 (.pdf document) (updated May 15, 2008)

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Copyright © 2002 William S. Boyd School of Law, UNLV
Last modified: January 13, 2007