Number 085                                                                   
                                                                               
  SB  86 FUND TRANSFERS UNDER THE UCC                                          
  SB 112 UNIFORM COMMERCIAL CODE REVISIONS                                     
                                                                               
  BILL KELDER, STAFF, SEN. JAY KERTTULA, testified in support                  
  of SB 86.  Mr. Kelder read a sponsor statement on Sen.                       
  Kertulla's behalf.  Mr. Kelder stated that SB 86 is known as                 
  the "funds transfer bill" and generally speaking brings the                  
  funds transfer portion of Alaska's uniform commercial code                   
  up to date with regard to current electronic technology as                   
  it applies to modern business practices.                                     
                                                                               
  Number 100                                                                   
                                                                               
  MR. KELDER added that SB 112 makes amendments to Alaska's                    
  Uniform Commercial Code, and in most instances these changes                 
  are designed to bring the code up to date with the rest of                   
  the country.                                                                 
                                                                               
  Number 220                                                                   
                                                                               
  ART PETERSON, STAFF ATTORNEY, DILLON AND FINDLEY, private                    
  law offices and a Uniform Law Commissioner for Alaska, said                  
  he supports SB 86 and SB 112.  Mr. Peterson echoed Mr.                       
  Kelder's remarks and pointed out two significant things in                   
  the bills:                                                                   
                                                                               
  1)  it recognizes that modern technology plays a major part                  
  in today's business and;                                                     
                                                                               
  2)  doing business that way raises questions that these                      
  bills will provide answers for.                                              
                                                                               
  Number  300                                                                  
                                                                               
  REP. PORTER moved SB 86 with individual recommendations and                  
  fiscal note.                                                                 
                                                                               
  No objections were heard; it was so ordered.                                 
                                                                               
  REP. GREEN moved SB 112 with individual recommendations and                  
  fiscal note.                                                                 
                                                                               
  No objections were heard; it was so ordered.