CHAPTER 481

SENATE JOINT RESOLUTION

RELATING TO CREATION OF JOINT COMMITTEE TO CONSIDER THE UNIFORM COMMERCIAL COM.

WHEREAS, the Uniform Commercial Code has been enacted in over 30 jurisdictions; and

WHEREAS, it has been proposed that the Uniform Commercial Code be adopted in Delaware; and

WHEREAS, the Uniform Commercial Code, if enacted, will be a landmark in the development of the statutory law of this state and will revise and update many of the commercial laws of this state; and

WHEREAS, the bill proposing the enactment of the Uniform Commercial Code will be one of the longest bills ever presented to the General Assembly, and will need special consideration and study;

NOW, THEREFORE,

BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES of the 123rd General Assembly of the State of Delaware, the Senate concurring therein, that there is created a Joint Committee on the Uniform Commercial Code of the 123rd General Assembly to consist of 3 members of the House to be appointed by the Speaker and 3 members of the Senate to be appointed by the President Pro Tem of the Senate to serve during the 123rd General Assembly; and

BE IT FURTHER RESOLVED, that the Committee is hereby authorized and empowered to expend such sums as may be necessary to defray the cost of preparing and considering the Uniform Commercial Code for enactment in Delaware; and

BE IT FURTHER RESOLVED, that warrants for the payment of expenditures authorized herein shall be paid by the State Treasurer upon presentment of vouchers signed by the Chairman and Secretary of the Committee.