Substitute House Bill No. 6970, also known as Public Act No. 25-145, proposes extensive amendments to the Uniform Commercial Code (UCC) to modernize and clarify legal definitions and provisions related to commercial transactions, effective January 1, 2026. Key insertions include new definitions for terms such as "conspicuous," "electronic," "hybrid transaction," and "controllable electronic record," which aim to reflect current commercial practices and technological advancements. The bill also updates existing definitions for terms like "money," "security interest," and "person," while replacing the term "authenticated" with "signed" in various contexts. Additionally, it introduces provisions for the control and transfer of electronic documents and financial assets, emphasizing the importance of electronic transactions and security procedures.

The bill also includes significant deletions of outdated definitions and legal language, such as the previous criteria for "conspicuous" terms and definitions of "fault," "fungible goods," and "good faith." It repeals and substitutes several sections of the general statutes to streamline the legal framework governing secured transactions, including the perfection and priority of security interests, the treatment of collateral, and the rights and obligations of secured parties and debtors. Overall, the amendments aim to enhance clarity, efficiency, and compliance in commercial transactions, ensuring that the legal framework aligns with contemporary practices and technologies.

Statutes affected:
Raised Bill: 1-204, 1-306, 2-102, 2-106, 2-201, 2-202, 2-203, 2-205, 3-401, 5-104, 5-116, 7-106, 8-102, 8-103, 8-106, 8-110, 8-303, 9-102, 9-104, 9-105, 9-204, 9-210, 9-301, 9-312, 9-313, 9-314, 9-316, 9-317, 9-323, 9-324, 9-330, 9-331, 9-332, 9-341, 9-406, 9-408, 9-509, 9-513, 9-605, 9-608, 9-611, 9-613, 9-614, 9-616, 9-620, 9-621, 9-624, 9-628, 1-1a
JUD Joint Favorable Substitute: 1-204, 1-306, 2-102, 2-106, 2-201, 2-202, 2-203, 2-205, 3-401, 5-104, 5-116, 7-106, 8-102, 8-103, 8-106, 8-110, 8-303, 9-102, 9-104, 9-105, 9-204, 9-210, 9-301, 9-312, 9-313, 9-314, 9-316, 9-317, 9-323, 9-324, 9-330, 9-331, 9-332, 9-341, 9-406, 9-408, 9-509, 9-513, 9-605, 9-608, 9-611, 9-613, 9-614, 9-616, 9-620, 9-621, 9-624, 9-628, 1-1a
File No. 809: 1-204, 1-306, 2-102, 2-106, 2-201, 2-202, 2-203, 2-205, 3-401, 5-104, 7-106, 8-102, 8-103, 8-106, 8-110, 8-303, 9-102, 9-104, 9-105, 9-204, 9-210, 9-301, 9-312, 9-313, 9-314, 9-316, 9-317, 9-323, 9-324, 9-330, 9-331, 9-332, 9-341, 9-406, 9-408, 9-509, 9-513, 9-605, 9-608, 9-611, 9-613, 9-614, 9-616, 9-620, 9-621, 9-624, 9-628, 1-1a
Public Act No. 25-145: 1-204, 1-306, 2-102, 2-106, 2-201, 2-202, 2-203, 2-205, 3-401, 5-104, 5-116, 7-106, 8-102, 8-103, 8-106, 8-110, 8-303, 9-102, 9-104, 9-105, 9-204, 9-210, 9-301, 9-312, 9-313, 9-314, 9-316, 9-317, 9-323, 9-324, 9-330, 9-331, 9-332, 9-341, 9-406, 9-408, 9-509, 9-513, 9-605, 9-608, 9-611, 9-613, 9-614, 9-616, 9-620, 9-621, 9-624, 9-628, 1-1a