H.B. 374                                                 VETOES

State House
Annapolis MD 21401

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the Maryland Constitution, today I have
vetoed House Bill 374 - Commercial Law - Uniform Commercial Code - Title 9 -
Miscellaneous.

This bill alters the definitions of "agricultural lien" and "health-care-insurance
receivable" under Title 9 of the Uniform Commercial Code; establishes that a sale by
an individual of an account that is a right to payment of winnings in a lottery or other
game of chance is automatically perfected; and clarifies the date on which certain
financing statements lapse.

Senate Bill 286, which was passed by the General Assembly and signed by me,
accomplishes the same purpose. Therefore, it is not necessary for me to sign House
Bill 374.

Sincerely,

Robert L. Ehrlich, Jr.

Governor

House Bill No. 374

AN ACT concerning

Commercial Law - Uniform Commercial Code - Title 9 - Miscellaneous

FOR the purpose of altering the definitions of "agricultural lien" and
"health-care-insurance receivable" under Title 9 of the Uniform Commercial
Code; establishing that a sale by an individual of an account that is a right to
payment of winnings in a lottery or other game of chance is automatically
perfected; clarifying the date on which certain financing statements lapse;
correcting a certain erroneous reference in a certain provision of law relating to
rules to determine a bank's jurisdiction for purposes of Title 9 of the Uniform
Commercial Code; and generally relating to Title 9 of the Uniform Commercial
Code.

BY repealing and reenacting, with amendments,
Article - Commercial Law

Section 9-102(a)(5) and (46), 9-304(b)(l), 9-309, 9-705, and 9-706
Annotated Code of Maryland
(2002 Replacement Volume and 2002 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Commercial Law

- 3600 -