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Jenner & Block Partner Carter H. Klein recently participated in a roundtable meeting for the Permanent Editorial Board of the Uniform Commercial Code on November 15 in Denver, CO.
Mr. Klein participated in the discussion of topics on the Uniform Commercial Code including: reports on the status of UCC Article Enactments; withdrawal of the 2003 amendments to Articles 2 and 2A of the UCC; the report on amendments to selected provisions of Article 9; consideration of PEB commentaries on selected legal issues; the report of PEB Payments Group on ULC Study Committee on Financial Institutions and Payments Systems; the report on implementation of the UN Convention on independent guarantees and stand-by letters of credit; the report on convention on assignment of receivables in international trade; report on UNCITRAL Draft Convention on the carriage of goods by sea and UCC Article 7; consideration of the impact of international conventions on UCC Articles; report on proposal on security interests in manufactured housing; report on Federal Tax Lien registration legislation; and other matters.
A member of the Firm’s Corporate, Commercial Law and Uniform Commercial Code, and Corporate Finance Practices, Mr. Klein has developed extensive experience with Article 5 of the Uniform Commercial Code – Letters of Credit. He participated in the drafting process for that article and in the drafting of the International Standby Practices 1998, and served as Chair of the Letter of Credit Subcommittee of the ABA’s UCC Committee, and is a member of the editorial advisory board of Documentary Credit World, which is published by IIBLP.