Bill Text: HI HB2705 | 2012 | Regular Session | Introduced
Bill Title: Negotiable Instruments; Enforcement; Bank Deposits and Collections; Uniform Commercial Code
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2012-02-22 - (H) The committee(s) on CPC/JUD recommend(s) that the measure be deferred. [HB2705 Detail]
Download: Hawaii-2012-HB2705-Introduced.html
HOUSE OF REPRESENTATIVES |
H.B. NO. |
2705 |
TWENTY-SIXTH LEGISLATURE, 2012 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to negotiable instruments.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 490:3-308, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:
"(b) If the validity of signatures is
admitted or proved and there is compliance with subsection (a), a plaintiff
producing the instrument is entitled to payment if the plaintiff proves
entitlement to enforce the instrument [under section 490:3-301], unless
the defendant proves a defense or claim in recoupment. If a defense or claim
in recoupment is proved, the right to payment of the plaintiff is subject to
the defense or claim, except to the extent the plaintiff proves that the
plaintiff has rights of a holder in due course which are not subject to the
defense or claim."
SECTION 2. Section 490:3-103, Hawaii Revised Statutes, is amended by deleting the definition of "Person entitled to enforce".
"["Person entitled to
enforce". Section 490:3-301.]" SECTION 3. Section
490:3-301, Hawaii Revised Statutes, is repealed.
"[§490:3-301 Person entitled to
enforce instrument. "Person entitled to enforce" an
instrument means (i) the holder of the instrument, (ii) a nonholder in
possession of the instrument who has the rights of a holder, or (iii) a person
not in possession of the instrument who is entitled to enforce the instrument
pursuant to section 490:3-309 or 490:3-418(d). A person may be a person
entitled to enforce the instrument even though the person is not the owner of
the instrument or is in wrongful possession of the instrument.]"
SECTION 4. Section 490:4-104, Hawaii Revised Statutes, is amended by deleting the definition of "person entitled to enforce".
"["Person entitled to
enforce". Section 490:3-301.]"
SECTION 5. This Act does not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun before its effective date.
SECTION 6. Statutory material to be repealed is bracketed and stricken.
SECTION 7. This Act shall take effect on July 1, 2012.
INTRODUCED BY: |
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Report Title:
Negotiable Instruments; Enforcement; Bank Deposits and Collections; Uniform Commercial Code
Description:
Repeals UCC definition of "person entitled to enforce".
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.