The Uniform Commercial Code
In an age where our economy crosses county, state, and national boundaries, we need laws and regulations that reflect this global reality. Especially on a national, cross-state basis, laws within the US are necessary to regulate interstate commerce because so much of our country’s business is done on a national scale.
The Uniform Commercial Code (UCC) was first produced in 1952 by a group of legal writers from the American Law Institute (ALI) and the National Conference of Commissioners on Uniform State Laws (NCCUSL). It is important to recognize that these regulations are not laws as they are written, they are simply recommendations that the board produces to give to various state legislatures.
Each state must ratify these laws, and it can be difficult to maintain uniformity when every individual state has the opportunity to change various parts or only accept a portion of the UCC. For the most part, though, every state has signed into law a huge portion of the code with minor changes.
The board, made up of members from the ALI and NCCUSL, continues editing and revising the code so that it can reflect changes in the nation’s economy and maintain its relevance and authority.
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These business law issues can be difficult to resolve, and experienced legal counsel can be very valuable in these circumstances. For more information about the complexities of interstate commerce, or for any of your business formation issues, contact Texas Legal Entities by calling 512-472-2431 for a consultation.