WA People
BILL · 2003–04 SESSION · LATEST VERSION SSB 5561

SB 5561: UCC Article 9A

Concerning restrictions on assignments under UCC Article 9A.

Summary

  • Exempts security interests in certain types of personal injury compensation awards or special needs trusts from the Uniform Commercial Code's prohibition against restrictions being placed on the assignment, transfer, or creation of a security interest in rights related to a promissory note or account.

From the Substitute House Bill Analysis (SSB 5561), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 87, Laws of 2003
  1. IntroducedJan 30, 2003
  2. Out of committeeFeb 21, 2003
  3. Passed SenateMar 11, 2003
  4. Passed HouseApr 10, 2003
  5. GovernorApr 23, 2003
  6. LawApr 23, 2003
Prime sponsor
Margarita Prentice (D-11)
Introduced
January 30, 2003 in the Senate
Last action
April 23, 2003
Session law
Chapter 87, Laws of 2003
Versions
SB 5561, SSB 5561

AN ACT Relating to restrictions on assignments under Article 9A of the uniform commercial code;

Sponsors

Prime sponsor: Margarita Prentice (D-11)

Votes

Senate · 3rd Reading & Final Passage

Passed March 11, 2003
Version voted on: SSB 5561
49 Yea 0 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat24000
Republican25000
How each member voted

Yea (49)

Permalink to this vote

House · Final Passage

Passed April 10, 2003
Version voted on: SSB 5561
95 Yea 0 Nay 0 Absent 3 Excused
PartyYeaNayAbsentExcused
Democrat49003
Republican46000
How each member voted

Yea (95)

Permalink to this vote

History

  1. Effective date 7/1/2003. (SSB 5561)
  2. Chapter 87, 2003 Laws. (SSB 5561)
  3. Governor signed. (SSB 5561)
  4. Delivered to Governor. (SSB 5561)
  5. Speaker signed. (SSB 5561)
  6. Third reading, passed; yeas, 95; nays, 0; absent, 0; excused, 3. (SSB 5561)
  7. Rules suspended. Placed on Third Reading. (SSB 5561)
  8. President signed. (SSB 5561)
  9. Placed on second reading by Rules Committee. (SSB 5561)
  10. Passed to Rules Committee for second reading. (SSB 5561)
  11. FII - Majority; do pass. (SSB 5561)
  12. FII - Executive action taken by committee. (SSB 5561)
  13. First reading, referred to Financial Institutions & Insurance. (SSB 5561)
  14. Third reading, passed; yeas, 49; nays, 0; absent, 0; excused, 0. (SSB 5561)
  15. Rules suspended. Placed on Third Reading. (SSB 5561)
  16. 1st substitute bill substituted. (SSB 5561)
  17. 1st substitute bill substituted.
  18. Placed on second reading by Rules Committee. (SSB 5561)
  19. Placed on second reading by Rules Committee.
  20. Passed to Rules Committee for second reading. (SSB 5561)
  21. FSIH - Majority; 1st substitute bill be substituted, do pass. (SSB 5561)
  22. FSIH - Majority; 1st substitute bill be substituted, do pass.
  23. Passed to Rules Committee for second reading.
  24. First reading, referred to Financial Services, Insurance & Housing.

SB 5561 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

Report wrong or missing information on this page