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S1006................................................by JUDICIARY AND RULES
UNIFORM COMMERCIAL CODE - Amends existing law relating to the Uniform
Commercial Code to make a technical correction.
01/15 Senate intro - 1st rdg - to printing
01/16 Rpt prt - to Jud
01/29 Rpt out - rec d/p - to 2nd rdg
01/30 2nd rdg - to 3rd rdg
02/02 3rd rdg - PASSED - 30-0-4(1 vacant)
AYES -- Andreason, Boatright, Brandt, Bunderson, Burtenshaw, Cameron,
Danielson, Davis, Deide, Dunklin, Frasure, Geddes, Goedde, Hawkins,
Ingram, Ipsen, Keough, King-Barrutia, Lodge, Noh, Richardson, Sandy,
Schroeder, Sorensen, Stegner, Stennett, Thorne, Wheeler, Whitworth,
Williams,
NAYS -- None
Absent and excused -- Branch, Darrington, Lee, Risch
Vacant -- Dist. #4
Floor Sponsor - Lodge
Title apvd - to House
02/05 House intro - 1st rdg - to Jud
02/08 Rpt out - rec d/p - to 2nd rdg
02/09 2nd rdg - to 3rd rdg
02/15 3rd rdg - PASSED - 68-0-2
AYES -- Barraclough, Barrett, Bedke, Bell, Bieter, Black, Boe, Bolz,
Bradford, Bruneel, Callister, Campbell, Chase, Clark, Collins, Cuddy,
Deal, Denney, Ellis, Ellsworth, Eskridge, Field(13), Field(20),
Gagner, Gould, Hadley, Harwood, Henbest, Higgins, Hornbeck, Jaquet,
Jones, Kellogg, Kendell, Kunz, Lake, Langford, Loertscher, Mader,
Marley, McKague, Meyer, Montgomery, Mortensen, Moss, Moyle, Pearce,
Pischner, Pomeroy, Raybould, Ridinger, Roberts, Robison, Sali,
Schaefer, Sellman, Shepherd, Smith, Smylie, Stevenson, Stone, Swan,
Tilman, Trail, Wheeler, Wood, Young, Mr. Speaker
NAYS -- None
Absent and excused -- Crow, Hammond
Floor Sponsor -- Boe
Title apvd - to Senate
02/16 To enrol
02/19 Rpt enrol - Pres signed
02/20 Sp signed
02/21 To Governor
02/22 Governor signed
Session Law Chapter 21
Effective: 07/01/01
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
IN THE SENATE
SENATE BILL NO. 1006
BY JUDICIARY AND RULES COMMITTEE
1 AN ACT
2 RELATING TO THE UNIFORM COMMERCIAL CODE; AMENDING SECTION 28-2-403, IDAHO
3 CODE, TO MAKE TECHNICAL CORRECTIONS.
4 Be It Enacted by the Legislature of the State of Idaho:
5 SECTION 1. That Section 28-2-403, Idaho Code, be, and the same is hereby
6 amended to read as follows:
7 28-2-403. POWER TO TRANSFER -- GOOD FAITH PURCHASE OF GOODS --
8 "ENTRUSTING." (1) A purchaser of goods acquires all title which his transferor
9 had or had power to transfer except that a purchaser of a limited interest
10 acquires rights only to the extent of the interest purchased. A person with
11 voidable title has power to transfer a good title to a good faith purchaser
12 for value. When goods have been delivered under a transaction of purchase, the
13 purchaser has such power even though:
14 (a) tThe transferor was deceived as to the identity of the purchaser,; or
15 (b) tThe delivery was in exchange for a check which is later dishonored,;
16 or
17 (c) iIt was agreed that the transaction was to be a "cash sale,"; or
18 (d) tThe delivery was procured through fraud punishable as larcenous
19 under the criminal law.
20 (2) Any entrusting of possession of goods to a merchant who deals in
21 goods of that kind gives him power to transfer all rights of the entruster to
22 a buyer in ordinary course of business.
23 (3) "Entrusting" includes any delivery and any acquiescence in retention
24 of possession regardless of any condition expressed between the parties to the
25 delivery of or acquiescence and regardless of whether the procurement of the
26 entrusting or the possessor's disposition of the goods have has been such as
27 to be larcenous under the criminal law.
28 (4) The rights of other purchasers of goods and of lien creditors are
29 governed by the chapters on Ssecured Ttransactions (chapter 9) and Ddocuments
30 of Ttitle (chapter 7).
STATEMENT OF PURPOSE
RS10582
This bill is one of a series of bills that the Supreme Court has
recommended in its annual report of "defects in the laws" to the
Governor as required under article V, section 25 of the Idaho
Constitution.
Section 28-2-403(3), Idaho Code, defines the term "entrusting" in
relation to the power to transfer title under the Idaho Uniform
Commercial Code. The purpose of this bill is to change the phrase
"delivery of acquiescence" to read "delivery or acquiescence."
The words "delivery of acquiescence" do not make sense when the
entire sentence in which they appear is read as a whole. The Uniform
Commercial Code published by the National Conference of Commissioners
on Uniform State Laws uses the phrase "delivery or acquiescence,"
which indicates that the word "of" in the Idaho statute is a
typographical error.
FISCAL NOTE
This bill will not have an impact on state or local funds.
Contact Person:
Patricia Tobias
Administrative irec:or of the Courts
Idaho Supreme Court
(208) 334-2246
STATEMENT OF PURPOSE/FISCAL NOTE S1006