The bill H. 3454 seeks to modernize the South Carolina Code of Laws concerning the Uniform Commercial Code (UCC) by updating definitions and provisions to better accommodate electronic and hybrid transactions. Key amendments include the introduction of new definitions for "electronic" and "hybrid transaction," as well as revisions to existing terms such as "conspicuous," "delivery," and "signed." The bill expands the scope of certain chapters to encompass hybrid transactions, which combine the sale of goods with services or leases. Additionally, it proposes significant changes to the handling of negotiable instruments and security interests, clarifying obligations related to electronic transactions and establishing new sections for controllable electronic records.

Furthermore, the bill introduces Chapter 12A, titled "Transitional Provisions for Uniform Commercial Code Amendments (2022)," which outlines definitions and provisions related to controllable accounts and electronic records, while also clarifying jurisdictional governance. It specifies that the law of the District of Columbia may govern certain transactions involving controllable electronic records under specific conditions. The bill sets an adjustment date of July 1, 2026, for certain provisions to take effect and addresses how existing transactions and security interests will be treated under the new framework, ensuring that rights and duties from prior transactions remain valid. Overall, the bill aims to enhance clarity and applicability of the UCC in light of evolving commercial practices.

Statutes affected:
12/05/2024: 36-1-201, 36-2-102, 36-2-106, 36-2A-102, 36-2A-103, 36-3-104, 36-3-105, 36-3-401, 36-3-604, 36-4A-103, 36-4A-201, 36-5-104, 36-5-116, 36-7-102, 36-7-106, 36-8-102, 36-8-103, 36-8-106, 36-8-110, 36-8-303, 36-9-102, 36-9-104, 36-9-105, 36-9-107A, 36-9-107B, 36-9-204, 36-9-208, 36-9-304, 36-9-305, 36-9-306A, 36-9-306B, 36-9-310, 36-9-312, 36-9-314, 36-9-314A, 36-9-316, 36-9-317, 36-9-323, 36-9-326A, 36-9-332, 36-9-408, 36-9-605, 36-9-613, 36-9-614, 36-9-628, 36-1-204
02/05/2025: 36-1-201, 36-2-102, 36-2-106, 36-2A-102, 36-2A-103, 36-3-104, 36-3-105, 36-3-401, 36-3-604, 36-4A-103, 36-4A-201, 36-5-104, 36-5-116, 36-7-102, 36-7-106, 36-8-102, 36-8-103, 36-8-106, 36-8-110, 36-8-303, 36-9-102, 36-9-104, 36-9-105, 36-9-107A, 36-9-107B, 36-9-204, 36-9-208, 36-9-304, 36-9-305, 36-9-306A, 36-9-306B, 36-9-310, 36-9-312, 36-9-314, 36-9-314A, 36-9-316, 36-9-317, 36-9-323, 36-9-326A, 36-9-332, 36-9-408, 36-9-605, 36-9-613, 36-9-614, 36-9-628, 36-1-204
Latest Version: 36-1-201, 36-2-102, 36-2-106, 36-2A-102, 36-2A-103, 36-3-104, 36-3-105, 36-3-401, 36-3-604, 36-4A-103, 36-4A-201, 36-5-104, 36-5-116, 36-7-102, 36-7-106, 36-8-102, 36-8-103, 36-8-106, 36-8-110, 36-8-303, 36-9-102, 36-9-104, 36-9-105, 36-9-107A, 36-9-107B, 36-9-204, 36-9-208, 36-9-304, 36-9-305, 36-9-306A, 36-9-306B, 36-9-310, 36-9-312, 36-9-314, 36-9-314A, 36-9-316, 36-9-317, 36-9-323, 36-9-326A, 36-9-332, 36-9-408, 36-9-605, 36-9-613, 36-9-614, 36-9-628, 36-1-204