September 17, 1993
TO: SEC RULES COMMITTEE NO. 78-93
RE: MEETING TO DISCUSS PROPOSED REVISION OF UCC ARTICLE 8
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As you know, a drafting committee was formed by the National Conference of
Commissioners on Uniform States Laws ("NCCUSL") to revise Article 8 of the
Uniform Commercial Code ("Proposed Revision"). Over the past several months, the
Institute has been reviewing the Proposed Revision in order to identify issues
of particular concern to the investment company industry. In July, we
distributed a memorandum prepared by outside counsel which detailed key issues
and considerations for investment companies arising out of the Proposed Revision
for your review and consideration. (See Memorandum to SEC Rules Committee No.
63-93, dated July 13, 1993.)
The Reporter to the NCCUSL Drafting Committee has requested a meeting with
the Institute and its members to determine the impact the Proposed Revision will
have on investment companies (as both issuers of and investors in securities).
The Institute’s meeting with the Reporter to the NCCUSL Drafting Committee
is scheduled for Monday, October 4, 1993, 1:00 p.m., at the law offices of
Kirkpatrick & Lockhart, One International Place (corner of High and Oliver
Streets), 13th Floor, Conference Room C, in Boston, Massachusetts. Please
contact my secretary, Shirley McCoy at 202/955-8430 if you are able to attend by
Thursday, September 30th.
Patricia Louie
Associate Counsel