The uniform commercial code ucc is the result of an effort to harmonize the law of sales and other commercial transactions in all 50 states within the united states of america. This article shall be known and may be cited as uniform commercial codesales. The ucc can be downloaded to pdf see the blue bar above the text, look to the right to download. Draft rules to implement the 2010 amendments to article 9 02102012 page 7 of 23 101. If this information statement relates to a record filed or recorded in a filing office described in section 9501a1. When you begin studying a topic as complex as secured transactions, particularly if you have no experience with the transactions, it can be mystifying. The search feature called a compact name has been designated by the florida department of state as the standard search logic for searching the records in the registry. These rules shall govern the filing, acceptance, indexing and searching of financing statements in the secretary of states office under article 9 of the uniform commercial code, as amended in 2001. Floridaucc, llc floridaucc, which entity has been approved by the florida department of state, is pleased to offer internet access to search this website for locating and searching the official records e. This book explains the terminology, structure, and methodology of security interests governed by article 9 in a readable, concise, and yet thorough manner. The 2010 amendments to ucc article 9 modify the existing statute to respond to filing issues and address other matters that have arisen in practice. A except as otherwise provided in division b of this section, a secured party may perfect a security interest in negotiable documents, goods, instruments, money, or tangible chattel paper by taking possession of the collateral. Filers should be aware that article 9 requires financing statements and other ucc records to include more information regarding the debtor than was previously required.
Article 9 is the secured transaction article of the uniform commercial code. Uniform commercial code uniform commercial code us law. Article 9 of the uniform commercial code requires a financing statement to include the name of the debtor. A primer on attachment, perfection, and priority 2012 fox rothschild 11. Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes, the provisions of this article with regard to rights and obligations apply whether title to collateral is in the secured party or the debtor. The ucc is the longest and most elaborate of the uniform acts. Construction of uniform commercial code to promote its purposes and policies. Ucc revised article 9 executive summary the following is a list of important points to consider when seeking to comply with the new ucc revised article 9 legislation ra9. Additions and corrections to the ucc filing guide ucc.
References in this part to this act refer to the legislative enactment by which this part is added to article 9 of the uniform commercial code. A a person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if. Provides a brief summary on the differences in bodies of law by definition. Findlegalforms ready for use ucc11 national information request. Delete all paragraphs appearing within framed border relating to. Secured transactions syllabus levin college of law. The new law adopts the alternative a only if approach for individual debtor name sufficiency in section 9503a4 and takes effect on july 1, 20. Weise the rule of section 93184 can be regarded as a revolutionary departure only by those who still cherish the hope that we may yet return to the views entertained some. Effective other essential ucc concepts page 9 role of the filing office is ministerial article 9 removed filing office discretion from the filing and search process. This article may be cited as uniform commercial codesecured transactions. The florida ucc1, ucc1 addendum, ucc1 additional party, ucc1 additional information, ucc3, ucc3 addendum, ucc3 additional party and ucc5 information statement forms approved by the florida secretary of state are available for download from this site.
Learn vocabulary, terms, and more with flashcards, games, and other study tools. Its mission is to provide states with nonpartisan, wellconceived and welldrafted legislation that brings clarity and stability to critical areas of state statutory law. Uniform commercial code ucc american law institute. Secured transactions part 8 transition for 2010 amendments 9801 effective date. Enforcing a security interest after default under ucc article 9. Secured transactions mastering secured transactions ucc article 9, second edition carolina aademic press mastering learn to write law exam essays while learning article 2 of the ucc. It is important to set forth the exact legal name of the debtor in any filings that are made. Obtain copies of your own states uniform commercial code. Double click on the pdf and a separate page will open. Name and address name address address citystatezip the above space is for filing office use only 1. Legislation revising article 9 of the uniform commercial code was signed into law as chapter 84 of the laws of 2001 and became effective july 1, 2001. As you may be aware, there are many important modifications filers and searchers will want to be aware of regarding revisions to uniform commercial code ucc revised article 9. Financing statements are indexed under the name of the debtor, and persons wishing to find filed financing statements search for them under the. Governing lien filings under the ucc, idapa 34, title 05, chapter 06.
Article 9 of the uniform commercial code must be viewed as a. If yes, local law governs check ucc 9109 for the scope of an article 9 secured transaction if transaction falls within scope of 9109, then article 9 controlsarticle 9. Sep 21, 2017 ucc article 9 for dummies is here to decode and help explain from a credit managers perspective, the more relevant aspects of the article and demystify the relevant aspects so we know what to do when it is required to secure a transaction. The 2010 amendments to ucc article 9 faqs 20 corporation service company v070120 5 what name do we provide for the settlor of an unnamed trust if the settlor is a registered. Ucc article 9 for dummies is here to decode and help explain from a credit managers perspective, the more relevant aspects of the article and demystify the relevant aspects so we know what to do when it is required to secure a transaction. The rules pertaining to that search logic can be found on the search screen. Objectives of ucc ra9 are to promote uniformity, reduce costs, increase efficiency, and simplify the filing process. This isnt a book to save to read at the end of the semester. Official comments to new article 9 official comment 8 to new 1. To date, every state and puerto rico and has enacted the amendments except for oklahoma and new yorkwho both introduced it this year 1.
Ucc amendments article 9 secured transactions final text 2010 pdf. Ucc article 3 commercial paper or negotiable instruments state statute link alabama 73101 thru. Instructions for information statement form ucc5 please type or laserprint this form. Weiler to the onondaga county bar association september 2006 i.
Article 9 of the uniform commercial code was revised as of july 1, 2001 sometimes the code or revised article 9. Mastering the uniform commercial code with forms the application of commercial law under the uniform commercial code 2004. An introduction to floridas newly revised ucc article 9. Enforcing a security interest after default under ucc article 9 navigating the notice requirements, remedies and enforcement rules todays faculty features. Article 9 encompasses a wide variety of possessory liens and determines the legal right of. New dawn for the article 9 secured creditor digital commons. Practitioners can use the book to become rapidly conversant with the scope, concepts, and.
Nationalize the revised article 9 filing system iu robert h. Article 9 of the uniform commercial code excludes from its scope any transfer of an. Florida enacts the 2010 amendments to ucc article 9 csc. Effectiveness cannot be determined from the record. The journals or printed bills of the respective chambers should be consulted for official purposes. Ucc article 9 revised continued from page 1 o n july 1, 2001, revised article 9 ra9 of the uniform commercial code ucc became effective in each of the 45 states and the district of columbia with a delayed effective date for the other states. Filing under article 9 of the uniform commercial code, nys. Revised uniform commercial code article 9 scholarly repository. Chapter 25 article 9 north carolina general assembly. This book is a great overview of the subject, to give the student or lawyer a big picture view before diving into the minute details. Construction of uniform commercial code to promote its. Assignments section of the course website on twen to download the supplemental. This article applies to a transaction to the extent that it is governed by another article of the uniform commercial code.
Ucc 93 when possession by or delivery to secured party perfects security interest without filing. It does not apply to money, to payment orders governed by article 4a, or to securities governed by article 8. Basics of creation and perfection of security interests under article 9 of the uniform commercial code presented by robert k. The file time for a ucc record delivered by this method is, notwithstanding the time of. A security interest is perfected when the creditor has taken steps as required by article 9 of the uniform commercial code to give notice of his interest in the fashion required for the. An introduction to floridas newly revised ucc article 9 background. Explains how to make the ucc 1 contract and how to properly file it explains how to establish own private treaty with the world supplemental. Ucc article 9 for dummies national association of credit. Delete paragraph appearing within framed border relating to maturity dates. The code has been a longterm, joint project of the national conference of commissioners on uniform.
Subsection g, c in the most recent version of article 1 which is essentially identical to former section 11052, indicates that choice of law rules provided in the other articles govern when applicable. The financing of intellectual property under revised ucc. Effective other essential ucc concepts page 9 role of the filing office is ministerial article 9 removed filing. Its meant to give a high level view of the code and to highlight the riskier areas. Chapter 679 2012 florida statutes the florida senate.
Florida statutes definitions index 2019 pdf general laws conversion table 2019 pdf index to special and local laws 19712019 pdf. Article 9 was most recently revised, extensively, in 1998, with a. Ucc records are effective to the extent they were filed by a person that may do so under 9509. Be greenwith downloadable resources, sheet music, and more. Commercial transactions other commercial transactions 9. The ucc can be downloaded to pdf see the blue bar above the text, look to the right to download iowa title xiii commerce, subtitle 5, chap 554, art 3 3101 3806. Justia us law us codes and statutes ohio revised code 2006 ohio revised code title xiii. Publish article 9 requires sos to publish ucc article 9 secretary of state must make the text of article 9 available either in printed form or on the secretary of states web site. The american law institute is the leading independent organization in the united states producing scholarly work to clarify, modernize, and otherwise improve the law. Secured transactions in personal property 463 4th ed. An article under the uniform commercial code ucc that governs secured transactions. This book is a wonderful introduction to the law governing security interests in personal property, which is based on article 9 of the ucc. Colorado, florida, georgia, louisiana, massachusetts, missouri, new. Article 9 secured transactions article 9 provides a framework for a creditor to obtain a security interest in the personal property of a debtor to secure payment of a creditors claim become a secured creditor in the personal property a security interest is only valid if a creditor follows the requirements of article 9 of the ucc.
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