The bill H. 3454 seeks to modernize and clarify the South Carolina Code of Laws concerning commercial transactions, particularly in the context of electronic and hybrid transactions. It introduces new definitions for terms such as "electronic" and "hybrid transaction," while updating existing definitions for terms like "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, including the elimination of certain signature standards and the introduction of provisions for controllable electronic records.

Moreover, the bill emphasizes the importance of electronic records and signatures, ensuring they are recognized within the legal framework governing commercial transactions. It clarifies the conditions under which secured parties can gain control over collateral, outlines the obligations of parties in transactions, and establishes the jurisdiction governing security interests. The bill also introduces a new chapter on "Controllable Electronic Records," defining relevant terms and providing a framework for resolving conflicts with existing laws. Overall, H. 3454 aims to align South Carolina's commercial laws with contemporary practices and technologies, enhancing clarity and efficiency in commercial transactions.

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