Professor Juliet M. Moringiello, center, at the ceremonial bill signing in August.
Harrisburg campus Professor Juliet M. Moringiello
, who serves as the co-chair of the Uniform Code Committee of the Pennsylvania Bar Association’s Business Law Section had the privilege of attending a ceremonial bill signing with Pennsylvania Governor Tom Corbett in August for her work in helping to see several amendments made to state law based on changes made to the Uniform Commercial Code (UCC) by the American Law Institute in 2010.
A commission of the American Law Institute first makes amendments to the UCC, but they remain only recommendations until passed into law in individual states. In Pennsylvania, the Bar Association plays an important role in advocating for those changes to be made to the existing laws. Professor Moringiello joined other prominent attorneys and academics from across the state on the committee and played an important role in seeing the changes enacted.
One of the major amendments concerned names for individual debtors on financing statements and what constitutes a “sufficient name.” Where other countries have laws establishing for official names, the United States lacks a national law governing legal names. The purpose of the amendment was to establish guidelines that provide some certainty in determining what the correct name of an individual debtor is without resorting to using the name printed on a person’s driver’s license as some banks pushed for.