75th OREGON LEGISLATIVE ASSEMBLY--2009 Regular Session
 
SA to SB 558
 
LC 1166/SB 558-1
 
                      SENATE AMENDMENTS TO
                         SENATE BILL 558
 
                    By COMMITTEE ON JUDICIARY
 
                            March 20
 
  On page 12 of the printed bill, delete lines 17 through 24 and
insert:
  '  { +  SECTION 14. + } (1) Except as provided in this section,
when a transaction bears a reasonable relation to this state and
also to another state or nation, the parties may agree that the
law either of this state or of such other state or nation shall
govern their rights and duties.
  ' (2) In the absence of such an agreement effective under
subsection (1) of this section and except as provided in
subsection (3) of this section, the Uniform Commercial Code
applies to transactions bearing an appropriate relation to this
state.
  ' (3) If one of the following provisions of the Uniform
Commercial Code specifies the applicable law, that provision
governs and a contrary agreement is effective only to the extent
permitted by the law so specified:'.
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