Bill Text: HI HB1661 | 2012 | Regular Session | Introduced


Bill Title: Negotiable Instruments; Holder Definition

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2011-12-01 - Carried over to 2012 Regular Session. [HB1661 Detail]

Download: Hawaii-2012-HB1661-Introduced.html

HOUSE OF REPRESENTATIVES

H.B. NO.

1661

TWENTY-SIXTH LEGISLATURE, 2011

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

relating to NEGOTIABLE INSTRUMENTS.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 


     SECTION 1.  Negotiable instruments have been abused, endorsed in bank, lost, or not timely assigned to trusts; and where negotiable instruments are not recorded for public records, an electronic copy is sufficient evidence that the person holding a "copy" is the actual holder.  Advanced printing technology can make copies that are almost perfect where only a forensics examiner can tell the difference.  Digital system copies are not reliable sources of actual ownership.

     SECTION 2.  Section 490:1-201, Hawaii Revised Statutes, is amended by amending the definition of "holder" to read as follows:

     ""Holder" means:

     (1)  The person in possession of a negotiable instrument that is payable either to bearer or to an identified person that is the person in possession; or

     (2)  The person in possession of a negotiable tangible document of title if the goods are deliverable either to bearer or to the order of the person in possession[; or].

    [(3)  The person in control of a negotiable electronic document of title.]"

     SECTION 3.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 4.  This Act shall take effect upon its approval.

 

INTRODUCED BY:

_____________________________

 

 


 


 

Report Title:

Negotiable Instruments; Holder Definition

 

Description:

Amends the definition of holder to exclude the person in control of a negotiable electronic document of title.

 

 

 

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.

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