Skip to Content
April 15, 2026 Clouds | 69°F
The 194th General Court of the Commonwealth of Massachusetts

Bill S.684 194th (Current)

An Act relative to the Massachusetts Uniform Commercial Code

By Ms. Creem, a petition (accompanied by bill, Senate, No. 684) of Cynthia Stone Creem for legislation relative to the Massachusetts Uniform Commercial Code. Financial Services.

View Text Print Preview Download PDF

Bill Information

Presenter:
Cynthia Stone Creem
Status:
Referred to Senate Committee on Ways and Means
Special Attachments:
Committee - Senate member votes

Uniform Commercial Code

The bill would update the state’s Uniform Commercial Code, or UCC. The changes, recommended for all states by a panel of experts, will bring Massachusetts commercial law into the 21st century and align with the 24 states that already enacted updates. There is no budget impact to the state from the legislation. An updated UCC will provide crucial clarity for transactions involving existing, new, and yet-to-emerge technologies, building comfort and willingness for businesses to explore new, innovative commerce opportunities. For example, the amendments pave the way and clarify transactions involving distributed ledger technology, like blockchain, AI, and electronic payment rights. The updates range from still-emerging technologies like AI to now-commonplace technologies, like digital signatures and electronic documents and promissory notes. The amendments respond to market concerns about the lack of definitive commercial law rules for transactions involving digital assets, especially relating to (a) negotiability for virtual (non-fiat) currencies, (b) certain electronic payment rights, (c) secured lending against virtual (non-fiat) currencies, and (d) security interests in electronic (fiat) money, such as central bank digital currencies issued by foreign nations. The amendments also address other technological developments affecting electronic chattel paper, negotiable instruments, payment systems, electronic documents of title, and sales and leases of goods. In particular, the amendments clarify the scope of Articles 2 and 2A when transactions combine the sale or lease of goods with other matters, a topic of importance in transactions affected by emerging technologies. The amendments contain, as well, some miscellaneous revisions unrelated to technological developments but providing needed clarifications of provisions of the UCC. The amendments address only state commercial law rules. They do not address the federal or state regulation or taxation of digital assets or money transmitter or anti-money laundering laws. The amendments defer to law outside of the UCC with respect to those matters.
* The bill summary was created by the Primary Sponsor of the bill; no committee of the General Court certifies the accuracy of its contents.

The information contained in this website is for general information purposes only. The General Court provides this information as a public service and while we endeavor to keep the data accurate and current to the best of our ability, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.