HB 1312 (1998): adopting the 1995 revisions to article 5 of the uniform commercial code relative to letters of credit.

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“HB 1312 (1998): adopting the 1995 revisions to article 5 of the uniform commercial code relative to letters of credit.” Granite Record, https://graniterecord.org/bill/1998/hb1312. Accessed 24 Oct. 2026.
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@misc{bill-1998-hb1312, title = {HB 1312 (1998): adopting the 1995 revisions to article 5 of the uniform commercial code relative to letters of credit.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/1998/hb1312}, note = {Accessed 24 Oct. 2026} }

HB 1312 (1998)

adopting the 1995 revisions to article 5 of the uniform commercial code relative to letters of credit.

  • Status: Signed into law
  • Term: 1997-1998
  • House committee: Commerce
  • Senate committee: Banks
  • Subject: Banking and Finance
  • Chapter law: 200

The Story

It was introduced on January 7, 1998 and referred to the House Commerce committee. The committee held a public hearing on January 22, 1998. The committee held a work session on February 17, 1998. The majority of the committee recommended that the House pass it unanimously, 14–0, and the report was placed on the consent calendar. On March 5, 1998 the House voted to pass it. It crossed to the Senate on March 19, 1998 and was referred to the Senate Banks committee. The committee held a public hearing on April 28, 1998. The committee met in executive session on May 12, 1998 to vote on its recommendation. The committee voted unanimously, 6–0, to recommend that the Senate pass it. On May 21, 1998 the Senate voted to pass it on a voice vote. The bill was enrolled on June 10, 1998 — the final check of the text before it goes to the governor. The governor signed it on June 18, 1998, making it Chapter 200 of the session laws. It took effect on January 1, 1999.

Sponsors

  • Rep. Mittelman (Hills 37) (prime sponsor)
  • Rep. J. Foster (Hills 33)

Hearings and Sessions

  • January 22, 1998, 11:00 AM: hearing, House Commerce, RM302,LOB
  • February 17, 1998, 9:30 AM: subcommittee work session, House Commerce, RM302,LOB
  • April 28, 1998, 2:30 PM: hearing, Senate Banks, RM102,LOB
  • May 12, 1998, 1:30 PM: executive session, Senate Banks, RM102,LOB

Votes

  • May 21, 1998, Senate: Ought to Pass — voice vote, passed

The Docket

  • January 7, 1998: INTRODUCED AND REF TO COMMERCE; HJ3,P103
  • January 7, 1998: COPY TO CHAIRMAN ON 12/09/97 DUE ON 02/20/98
  • January 22, 1998: HEARING JAN22 11:00 RM302,LOB FOR: COMMERCE
  • February 17, 1998: SUBCOM WORK SESS FEB17 9:30 RM302,LOB FOR: COMMERCE
  • February 17, 1998: MAJ REPORT OTP FOR MAR05 (VOTE 14-0;CC)
  • March 5, 1998: PASSED; HJ21,P1088 + 1167
  • March 19, 1998: INTRODUCED AND REF TO BANKS; SJ7,P161
  • April 28, 1998: HEARING APR28 2:30 RM102,LOB FOR: BANKS
  • May 12, 1998: EXEC SESS MAY12 1:30 RM102,LOB FOR: BANKS
  • May 18, 1998: COMM REPORT OTP MAY21 (VOTE 6-0)
  • May 21, 1998: PASSED VV; SJ16,P404 + 430
  • June 4, 1998: ENROLLED; HJ57,P2135
  • June 10, 1998: ENROLLED; SJ19,P528
  • June 18, 1998: SIGNED BY GOVERNOR 06/18/98 EFF: 01/01/99 CHAP.0200

Laws It Would Change

From the General Court