CHAPTER 330

FORMERLY

HOUSE BILL NO. 735

AS AMENDED BY HOUSE AMENDMENT NO. 1

AN ACT TO AMEND TITLE 6 OF THE DELAWARE CODE RELATING TO THE UNIFORM COMMERCIAL CODE.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (three-fifths of all members elected to each House thereof concurring therein):

Section 1. Amend Subsection 3-106(1), Part 1, Article 3, Title 6 of the Delaware Code by deleting the "." at the end of paragraph (e) and substituting in lieu thereof "; or", and adding the following paragraph (f):

"(f) with a variable rate of interest, even though determinable with reference to a source other than the instrument."

Section 2. Amend Subsection 4-108(1), Part 1, Article 4, Title 6 of the Delaware Code by inserting in said subsection, after the words for a period" and before the words "in excess of", the word "not".

Section 3. Amend Paragraph 8-102(1)(c), Part 1, Article 8, Title 6 of the Delaware Code by inserting in the last sentence thereof, after the word and comma "issuer," and before the word "that", the following: or security for payment,".

Section 4. Amend Section 9-105, Part 1, Article 9, Title 6 of the Delaware Code by redesignating paragraphs (1)(d) through (1)(n) thereof as paragraphs (1)(e) through (1)(o) and by inserting a new paragraph (1)(d) to said section to read as follows:

"(d) 'Credit device account' means any right to payment for money due or to become due under any agreement or plan relating to a credit card, charge card or other similar system, pursuant to which access is provided by a card, check, identification code or other means of identification or access contemplated by such agreement or plan;".

Section 5. Amend Section 9-106, Part 1, Article 9, Title 6 of the Delaware Code by deleting the first sentence of such section and inserting in lieu thereof the following:

"'Account' means (i) any right to payment for goods sold or leased or for services rendered, and (ii) any credit device account, which, in either case, is not evidenced by an instrument or chattel paper and, in either case, whether or not it has been earned by performance."

Section 6. Amend Section 9-407, Part 4, Article 9, Title 6 of the Delaware Code by adding the following Subsection (3) thereto as follows:

"(3) For each service described in subsection (2) of this section that is requested to be completed within a 24-hour period from the time of the request, the Secretary of State shall charge the additional sum of up to $75."

Approved July 10, 1990.