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As many readers are aware, substantial revisions to Article 9 of the Uniform Commercial Code (the “UCC”) became effective in all 50 states and the District of Columbia in 2001 or shortly thereafter. Although these amendments modernized and simplified commercial law and practice in important respects, enough ambiguities and frictions arose between theory and practice to justify statutory fine tuning. Accordingly, the Uniform Law Commission and the American Law Institute set to work on amendments in 2008. A version of these amendments were signed into law in New York by Governor Cuomo on December 17, 2014. They are part of an omnibus bill that, in addition to amending Article 9, updates several other articles of New York’s version of the UCC (hereafter referred to as the “Act”)