SB3994 - Tennessee: Uniform Commercial Code

Companion Bill HB3950. Uniform Commercial Code - Revises Article 7 of the Uniform Commercial Code concerning documents of title. - Amends and repeal portions of TCA Title 47, Chapter 7. Fiscal Summary for *SB3994 / HB3950MINIMAL Bill Summary for *SB3994 / HB3950 This bill revises the Tennessee version of the Uniform Commercial Code (UCC) dealing with documents of title (Article 7). This bill distinguishes between tangible and electronic documents of title and makes other changes. Present law does not provide for an electronic document of title. "Document of title" means a document that in the regular course of business or financing is treated as adequately evidencing that the person in possession of the document is entitled to receive, hold, and dispose of the document and the goods the document covers and includes a bill of lading, dock [...]

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