Financial Services

On October 12, 1994, Governor Whitman signed into effect a bill which enacted Chapter 2A (regulation of leases of goods) and Chapter 4A (regulates fund transfers) of the Uniform Commercial Code and which repealed Chapter 6 (the Bulk Sales Act). These changes will be effective as of January 12, 1995. Further, the New Jersey legislature is considering the enactment of a revised Chapter 3 (Negotiable Instrument) and Chapter 4 (Bank Deposits and Collections).