In 2007, the PEB established an Article 9 Joint Review Committee to consider issues that had come up under Revised Article 9 to determine if statutory amendments or comment changes should be considered.
The Committee issued its report in June 2008 and shortly thereafter a drafting committee was formed.
The drafting committee met five times and has produced proposed amendments to the Code and near-final proposed amendments to the comments.
Professor Sepinuck served as the ABA Advisor to the drafting committee and Professor Rusch served as an observer on behalf of the American College of Commercial Finance Lawyers. Both have prepared lengthy summaries of the drafting committee's deliberations.