Click here for a full list of members.

The Uniform Commercial Code (UCC) and Debtor-Creditor Laws Study Group was organized in the summer of 2009 to consider whether to update Mississippi’s implementation of the UCC with the most current revisions promulgated by the American Law Institute and the Uniform Law Commission (formerly known as the National Conference of Commissioners on Uniform State Laws). The Group will make its formal recommendations to the Mississippi Legislature later this year regarding revisions Articles 1, 2, 3, 4 and 9 of the state’s UCC laws.

Originally the Study Group included a subgroup for debtor creditors laws issues. In September this subgroup was separated from the UCC Study Group to create a free standing, independent study group. The Debtor Creditors Laws Study Group is considering changes to the state receivership statutes and assignments for the benefits of creditors laws. The purpose of these changes will be to make it more attractive and less costly for distressed small businesses to liquidate their assets or reorganize via such state laws without having to resort to conducting these activities in Federal Bankruptcy Court.

The Study Group also includes a subgroup devoted to the study of subcontractor liens issues. This subgroup has met and conducted a multi-state review and study of the subcontractor lien and other related laws designed to ensure payment of subcontractors.