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FOR IMMEDIATE RELEASE |
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CONTACT: Gabrielle
A. Prutisto |
State Rep. Jaret
Gibbons |
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Gibbons taking steps to modernize Uniform Commercial Code
HARRISBURG, May 2 – The times are changing. As new technology comes along, business is made more efficient for those who utilize the changes. However, as state Rep. Jaret Gibbons, D- Lawrence/Beaver/Butler, points out, new technology works best when everyone has the ability to put it into use.
Gibbons has introduced legislation (H.B. 1152) that would update the Uniform Commercial Code as our economy is relying more heavily on electronic documentation for transactions and commerce. The purpose of the UCC is to simplify, clarify and make business transactions more uniform.
“Currently, written documentation takes the forefront when it comes to the UCC. This is a strong deterrent for any forms of e-documentation, the Internet and e-mail,“ Gibbons said. ”As it is now, the law is slowing down the process by which we get out information. I intend to change that and bring businesses up to date as they are in many other states.”
Gibbons’ legislation would change the UCC to account for the use of e-documentation.
"E-commerce would be facilitated by this uniformity, but it's hampered by the current law's limitations. My proposed legislation would help our economy expand and experience fewer growing pains as more and more business is transacted via the Internet and e-mail," Gibbons said.
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