A draft of amendments to the Uniform Commercial Code to address emerging technologies is nearing completion. In this conversation, vice chair of the drafting committee Juliet Moringiello, R. Marshall Grodner, and Christopher Odinet discuss the amendments’ effort to provide a broad framework for transacting with digital assets, from cryptocurrency to non-fungible tokens and “just about any other digital thing that we may not think of right now.” Delving into consumer concerns related to NFTs, the challenges of enacting UCC amendments in the states, and more, these experts provide a perceptive look at the nuts and bolts behind digital assets’ hype.
This video was filmed at the ABA Business Law Section’s 2022 Hybrid Spring Meeting. To learn more about these topics, check out the on-demand CLE versions of the meeting’s related programs, including “The UCC Tackles Emerging Technology: The Proposed 2022 Amendments to the UCC, Part II” and “Digital Assets and the Digital Economy: Questions of Scope and Sales.”
Read more about the video’s speakers below:
R. Marshall Grodner
Marshall is a member of McGlinchey Stafford resident in the Baton Rouge, LA, Office. He is the current chair of the Commercial Finance Committee of the ABA Business Section. Marshall is also President of the American College of Commercial Finance Lawyers. His practice focuses primarily on commercial transactions, secured transactions, commercial finance, opinion letters, commercial real estate, and gaming law. Marshall serves as chair of the firm’s legal opinion committee. He has authored or co-authored several articles in law reviews and other publications dealing with secured transactions, legal opinions, commercial real estate, and other business law issues.
Juliet M. Moringiello
Juliet Moringiello is Associate Dean for Academic Affairs and Professor at Widener University Commonwealth Law School in Harrisburg, PA. She teaches Property, Secured Transactions, Sales, and Bankruptcy. Prof. Moringiello is a Uniform Law Commissioner for Pennsylvania and an elected member of the American Law Institute and is the Vice-Chair of the ULC/ALI Drafting Committee on the Uniform Commercial Code and Emerging Technologies. She writes about electronic contracting, property rights in digital assets, and the relationship between state and federal law in bankruptcy.
Chris Odinet is a Professor of Law and the Michael and Brenda Sandler Fellow in Corporate Law at the University of Iowa. His teaching and research specialize in commercial and consumer finance law and real estate transactions, with an emphasis on mortgage lending and financial regulation. He is a co-author on several widely used casebooks on secured credit and real estate finance, and he is the author of Foreclosed: Mortgage Servicing and the Hidden Architecture of Homeownership in America (published in 2019 by Cambridge University Press).
In addition to his faculty role, Chris has been active in numerous professional and public service organizations, including the Association of American Law Schools, the American Bar Association, the Uniform Law Commission, the American Law Institute, and the American College of Real Estate Lawyers. He currently serves as co-editor of The Business Lawyer’s Annual Survey of Consumer Financial Services Law.