HB1240: Uniform Commercial Code Modernization Act of 2024; enact

Legislative Summary

A BILL to be entitled an Act to amend Title 11 of the Official Code of Georgia Annotated, relating to the commercial code, so as to update and modernize various statutes in the commercial code relating to commercial transactions in order to maintain uniformity in this state's statutes governing commercial transactions as recommended by the National Conference of Commissioners on Uniform State Laws; to establish commercial law for transactions involving digital assets; to provide for a short title; to renumber Article 12 as Article 13; to add a new Article 12 to the commercial code pertaining to controllable electronic records; to add a new Article 12A pertaining to transitional provisions; to make conforming amendments; to provide for related matters; to repeal conflicting laws; and for other purposes.