JEFFERSON CITY, Mo. – The Missouri House of Representatives has taken a significant step forward in modernizing the state’s commercial transaction laws with the passage of House Bill 2780. This comprehensive legislation, sponsored by State Representative Justin Hicks, introduces vital updates to accommodate the evolving landscape of digital commerce while bolstering economic growth and opportunity across Missouri.
HB 2780, which received overwhelming support, addresses crucial aspects of commercial transactions, including the prohibition of central bank digital currency, revisions to the Uniform Commercial Code (UCC) definitions, and provisions governing sales, leases, letters of credit, secured transactions, and more. HB 2780 aims to streamline commercial transactions, enhance legal clarity, and promote economic development in Missouri.
“This legislation represents a significant step forward in modernizing our commercial transaction laws to meet the demands of the digital age,” Hicks, R-Lake St. Louis, said. “By providing a framework for secured lenders to control digital assets and facilitating smoother transactions, HB 2780 will spur economic growth and benefit businesses across our state.”
“The passage of HB 2780 is a testament to our commitment to fostering a business-friendly environment in Missouri,” House Speaker Dean Plocher, R-Des Peres, said. “This bill not only ensures that our commercial laws remain relevant in today’s changing landscape of commerce but also demonstrates our dedication to supporting the needs of businesses and entrepreneurs by providing the tools they need to thrive in an increasingly digital world.”
The bill now moves to the Missouri Senate for consideration.