Pursuant to the requirements of C.R.S. 24-4-103, notice of proposed rulemaking is hereby given by the Colorado Secretary of State. A rulemaking hearing will be held on Tuesday, August 7, 2001 at 9:00 a.m. at the office of the Colorado Secretary of State, 1560 Broadway, Suite 200, Denver, Colorado 80202-5169, for the consideration of proposed "Filing-Office Rules adopted by the Colorado Secretary of State for the Implementation of Articles 9 and 9.5 of Title 4, Colorado Revised Statutes, the Uniform Commercial Code - Secured Transactions."

Subject of the Proposed Rulemaking

The general purposes of this hearing include, among others, receiving public comment on rules proposed by the Colorado Secretary of State. The proposed rules will replace rules currently in effect and published in the Code of Colorado Regulations ("CCR") at 8 CCR 1505-7.

The Secretary of State is required by § 4-9-526, C.R.S. to adopt and publish rules to implement Articles 9 and 9.5 of Title 4, C.R.S. Article 9 was repealed and re-enacted, with amendments, by S.B. 01-240, which was enacted during the 2001 Regular Legislative Session, which was signed into law by the Governor on June 5, 2001 and which has an effective date of July 1, 2001. S.B. 01-240 also amended Article 9.5 of Title 4, C.R.S. which is administered by the Secretary of State. The purposes of the hearing include receiving public comment on said proposals.

The specific proposals to be considered include adoption of a written set of administrative rules, which the public shall have a voice in creating, expressing the interpretation and implementation of the Secretary of State’s duties and responsibilities under said Articles 9 and 9.5. Such rules have the following purposes:

• To simplify and improve the administration of the UCC by promoting uniform UCC filing procedures in the jurisdictions that enact substantially part 5 of the UCC;
• To simplify the public's ability to discover and understand the UCC filing procedures of the various jurisdictions by establishing a uniform framework for describing the procedures;
• To increase public access to information;
• To increase public participation in the formulation of administrative policy and procedures; and
• To increase public accountability of the filing officer.

Authority for the Proposed Rulemaking

These rules are proposed pursuant to the authority delegated to the Colorado Secretary of State in §4-9-526, C.R.S.

Copies of the proposed rules may be obtained from the Office of the Colorado Secretary of State, 1560 Broadway, Suite 200, Denver, Colorado 80202-5169, by contacting Cheri Baker, telephone (303) 894-2200 x 393, e-mail cheri.baker@state.co.us. Copies will be distributed free of charge, subject to a limit of one copy per requesting party. The proposed rules will also be available via the Internet on the Secretary of State’s Web site, www.sos.state.co.us.

Notice of Proposed Rule Making

The hearing will be held in accord with the provisions of § 24-4-103 C.R.S. At the time and place stated in this notice, the Colorado Secretary of State will receive written and oral data, views, and arguments from anyone interested in the proposed rules. Written submissions must be filed at or before the time set for commencement of the hearing in order to be considered. Oral testimony may be limited in order to allow the hearing to proceed with reasonable promptness and efficiency

The Secretary of State finds these rules are necessary to fulfill the purposes of Articles 9 and 9.5of Title 4, C.R.S. and the duties of the Secretary of State thereunder.

The rules are fair, impartial, and nondiscriminatory.

Dated at Denver, Colorado this 29th day of June, 2001.

Donetta Davidson
Secretary of State

Signed
By William A. Hobbs
Deputy Secretary of State