Enron Mail

From: carol.clair@enron.com To: mary.cook@enron.com, sara.shackleton@enron.com Subject: Article ( Cc: Bcc: Date: Thu, 31 May 2001 07:39:00 -0700 (PDT) Mary and Sara: I spoke with Lech about the Article 9 questions. He is going to send me some articles that they have written which I will send to you. He alos confirmed that the cash perfection issue has not changed under new Article 9 although his view on it was that this type of collateral under the UCC is more like a deposit account than "money" which, under common law principles, gets perfected through the exercise of dominion and control over the cash. Under the new Article 9, deposit accounts are covered and the new Article 9 codifies the common law control test. e alos expressed a view that It may take longer than July 1st for NY to adopt the new Article 9. Carol St. Clair EB 3889 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com