WA People
BILL · 2015–16 SESSION

SB 5032: Lease, security interest/UCC

Specifying when a transaction in the form of a lease does not create a security interest for purposes of the uniform commercial code.

Summary

  • Provides that a security interest is not created merely because a transaction in the form of a lease contains a terminal rental adjustment provision.

From the House Bill Report (SB 5032), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 107, Laws of 2015
  1. IntroducedJan 12, 2015
  2. Out of committeeFeb 6, 2015
  3. Passed SenateFeb 24, 2015
  4. Passed HouseApr 13, 2015
  5. GovernorApr 25, 2015
  6. LawApr 25, 2015
Prime sponsor
Jamie Pedersen (D-43)
Introduced
January 12, 2015 in the Senate
Last action
April 25, 2015
Session law
Chapter 107, Laws of 2015

AN ACT Relating to specifying when a transaction in the form of a lease does not create a security interest for purposes of the uniform commercial code;

Sponsors

Prime sponsor: Jamie Pedersen (D-43)

1 co-sponsor (0 Democrats, 1 Republican)

Steve O'Ban R-28

Votes

Senate · 3rd Reading & Final Passage

Passed February 24, 2015
Version voted on: SB 5032
46 Yea 1 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat22002
Republican24100
How each member voted

Nay (1)

Excused (2)

Permalink to this vote

House · Final Passage

Passed April 13, 2015
Version voted on: SB 5032
97 Yea 0 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat50001
Republican47000
How each member voted

Yea (97)

Excused (1)

Permalink to this vote

History

  1. Effective date 7/24/2015.
  2. Chapter 107, 2015 Laws.
  3. Governor signed.
  4. Delivered to Governor.
  5. Speaker signed.
  6. President signed.
  7. Third reading, passed; yeas, 97; nays, 0; absent, 0; excused, 1.
  8. Rules suspended. Placed on Third Reading.
  9. Placed on second reading by Rules Committee.
  10. Referred to Rules 2 Review.
  11. JUDI - Majority; do pass.
  12. First reading, referred to Judiciary (Not Officially read and referred until adoption of Introduction report).
  13. Third reading, passed; yeas, 46; nays, 1; absent, 0; excused, 2.
  14. Rules suspended. Placed on Third Reading.
  15. Placed on second reading consent calendar.
  16. Passed to Rules Committee for second reading.
  17. LAW - Majority; do pass.
  18. First reading, referred to Law & Justice.
  19. Prefiled for introduction.

SB 5032 in other sessions

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

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