Uniform Commercial Code UCC

The UCC is a comprehensive modernization of various statutes relating to commercial transactions including sales, leases, negotiable instruments, bank deposits and collections, funds transfers, letters of credit, bulk sales, documents of title, investment securities, and secured transactions.

The Permanent Editorial Board for the UCC, a joint committee of ALI and the Uniform Law Commission, assists in attaining and maintaining uniformity in state statutes governing commercial transactions by discouraging non-uniform amendments to the UCC by the states, and by approving and promulgating amendments to the UCC when necessary. Visit the PEB page for recent PEB commentaries and other documents.

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  •  
    UCC Official Text and Comments, 2014-2015 Edition
    2000+ pages, 214, #1UCCOTC14

    This book contains the complete text of the Uniform Commercial Code. It also includes appendices containing PEB commentaries and reports, past amendments, and pre-revision Articles.

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  •  
    PEB Report on Application of the UCC to Selected Issues Relating to Mortgage Notes
    17 pages, 2011, #1UCCNOV11E

    This report explains the application of UCC Articles 3 and 9 to provide guidance in (i) identifying the person who is entitled to enforce the payment obligation of the maker of a mortgage note, and to whom the maker owes that obligation; and (ii) determining who owns the rights represented by the note and mortgage.

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  •  
    Amendments to UCC Article 9, Secured Transactions
    129 pages, 2010, #1UCCPFTE

    This is the final version of the amendments to Article 9 of the UCC after approval by both the ALI and the ULC.

     

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    Tentative Draft, Amendments to UCC Article 9
    UCC Amendments Article 9. Secured Transactions TD 2010 PDF
    84 pages, 2010, #1UCC9TD

    UCC Article 9 - Secured Transactions - Tentative Draft

    Softbound  | 1UCC9TD  | 2010  | 84 pages  | $25.00

    PART ONE

    AMENDMENTS TO THE OFFICIAL TEXT AND RELATED COMMENTS

    SECTION 9-102. DEFINITIONS AND INDEX OF DEFINITIONS  3

    SECTION 9-105. CONTROL OF ELECTRONIC CHATTEL PAPER 7

    SECTION 9-307. LOCATION OF DEBTOR 10

    SECTION 9-311. PERFECTION OF SECURITY INTERESTS IN PROPERTY SUBJECT
    TO CERTAIN STATUTES, REGULATIONS, AND TREATIES. 12

    SECTION 9-316. CONTINUED PERFECTION OF SECURITY INTEREST FOLLOWING EFFECT OF CHANGE IN GOVERNING LAW 13

    SECTION 9-317. INTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE OF SECURITY INTEREST OR AGRICULTURAL LIEN 17

    SECTION 9-326. PRIORITY OF SECURITY INTERESTS CREATED BY NEW
    DEBTOR 19

    SECTION 9-406. DISCHARGE OF ACCOUNT DEBTOR; NOTIFICATION OF ASSIGNMENT; IDENTIFICATION AND PROOF OF ASSIGNMENT; RESTRICTIONS ON ASSIGNMENT OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES, AND PROMISSORY NOTES INEFFECTIVE 20

    SECTION 9-408. RESTRICTIONS ON ASSIGNMENT OF PROMISSORY NOTES, HEALTH-CARE-INSURANCE RECEIVABLES, AND CERTAIN GENERAL INTANGIBLES INEFFECTIVE 21

    SECTION 9-502. CONTENTS OF FINANCING STATEMENT; RECORD OF
    MORTGAGE AS FINANCING STATEMENT; TIME OF FILING FINANCING STATEMENT 23

    SECTION 9-503. NAME OF DEBTOR AND SECURED PARTY 24

    SECTION 9-507. EFFECT OF CERTAIN EVENTS ON EFFECTIVENESS OF
    FINANCING STATEMENT 33

    SECTION 9-515. DURATION AND EFFECTIVENESS OF FINANCING STATEMENT; EFFECT OF LAPSED FINANCING STATEMENT 34

    SECTION 9-516. WHAT CONSTITUTES FILING; EFFECTIVENESS OF FILING. 34

    SECTION 9-518. CLAIM CONCERNING INACCURATE OR WRONGFULLY FILED RECORD 36

    SECTION 9-521. UNIFORM FORM OF WRITTEN FINANCING STATEMENT AND AMENDMENT 40

    SECTION 9-607. COLLECTION AND ENFORCEMENT BY SECURED PARTY 46

    SECTION 9-801. EFFECTIVE DATE 47

    SECTION 9-802. SAVINGS CLAUSE 47

    SECTION 9-803. SECURITY INTEREST PERFECTED BEFORE EFFECTIVE DATE 47

    SECTION 9-804. SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE
    DATE 48

    SECTION 9-805. EFFECTIVENESS OF ACTION TAKEN BEFORE EFFECTIVE
    DATE 48

    SECTION 9-806. WHEN INITIAL FINANCING STATEMENT SUFFICES TO
    CONTINUE EFFECTIVENESS OF FINANCING STATEMENT. 50

    SECTION 9-807. AMENDMENT OF PRE-EFFECTIVE-DATE FINANCING
    STATEMENT 51

    SECTION 9-808. PERSONS ENTITLED TO FILE INITIAL FINANCING STATEMENT
    OR CONTINUATION STATEMENT 52

    SECTION 9-809. PRIORITY 53

    PART TWO

    MODIFICATIONS TO THE COMMENTS UNACCOMPANIED BY
    AMENDMENTS TO THE OFFICIAL TEXT
    SECTION 9-102. DEFINITIONS AND INDEX OF DEFINITIONS 54

    SECTION 9-104. CONTROL OF DEPOSIT ACCOUNT 57

    SECTION 9-109. SCOPE 58

    SECTION 9-301. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS 59

    SECTION 9-501. FILING OFFICE 60

    SECTION 9-307. LOCATION OF DEBTOR 61

    SECTION 9-322. PRIORITIES AMONG CONFLICTING SECURITY INTERESTS IN
    AND AGRICULTURAL LIENS ON SAME COLLATERAL 63

    SECTION 9-509. PERSONS ENTITLED TO FILE A RECORD 65

    SECTION 9-322. PRIORITIES AMONG CONFLICTING SECURITY INTERESTS IN
    AND AGRICULTURAL LIENS ON SAME COLLATERAL 65

    SECTION 9-326. PRIORITY OF SECURITY INTERESTS CREATED BY NEW
    DEBTOR 67

    SECTION 9-330. PRIORITY OF PURCHASER OF CHATTEL PAPER OR
    INSTRUMENT 68

    SECTION 9-509. PERSONS ENTITLED TO FILE A RECORD 70

    SECTION 9-512. AMENDMENT OF FINANCING STATEMENT 71

    SECTION 9-602. WAIVER AND VARIANCE OF RIGHTS AND DUTIES 73

    SECTION 9-610. DISPOSITION OF COLLATERAL AFTER DEFAULT 75

    SECTION 9-624. WAIVER 75

    SECTION 9-610. DISPOSITION OF COLLATERAL AFTER DEFAULT 76

    SECTION 9-611. NOTIFICATION BEFORE DISPOSITION OF COLLATERAL. 77

    SECTION 9-613. CONTENTS AND FORM OF NOTIFICATION BEFORE
    DISPOSITION OF COLLATERAL: GENERAL 77

    SECTION 9-616. EXPLANATION OF CALCULATION OF SURPLUS OR
    DEFICIENCY 79

    SECTION 9-621. NOTIFICATION OF PROPOSAL TO ACCEPT COLLATERAL 80

    SECTION 9-625. REMEDIES FOR SECURED PARTY’S FAILURE TO COMPLY WITH ARTICLE 81

    SECTION 9-706. WHEN INITIAL FINANCING STATEMENT SUFFICES TO
    CONTINUE EFFECTIVENESS OF FINANCING STATEMENT 81

    SECTION 8-103. RULES FOR DETERMINING WHETHER CERTAIN OBLIGATIONS AND INTERESTS ARE SECURITIES OR FINANCIAL ASSETS 83

    ARTICLE 11: EFFECTIVE DATE AND TRANSITION PROVISIONS 84

     

    This draft containing amendments to Article 9 of the UCC was approved at the 2010 Annual Meeting.

    #1UCC9TDE

    UCC Article 9 - Secured Transactions - Tentative Draft

    Softbound  | 1UCC9TD  | 2010  | 84 pages  | $25.00

    PART ONE

    AMENDMENTS TO THE OFFICIAL TEXT AND RELATED COMMENTS

    SECTION 9-102. DEFINITIONS AND INDEX OF DEFINITIONS  3

    SECTION 9-105. CONTROL OF ELECTRONIC CHATTEL PAPER 7

    SECTION 9-307. LOCATION OF DEBTOR 10

    SECTION 9-311. PERFECTION OF SECURITY INTERESTS IN PROPERTY SUBJECT
    TO CERTAIN STATUTES, REGULATIONS, AND TREATIES. 12

    SECTION 9-316. CONTINUED PERFECTION OF SECURITY INTEREST FOLLOWING EFFECT OF CHANGE IN GOVERNING LAW 13

    SECTION 9-317. INTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE OF SECURITY INTEREST OR AGRICULTURAL LIEN 17

    SECTION 9-326. PRIORITY OF SECURITY INTERESTS CREATED BY NEW
    DEBTOR 19

    SECTION 9-406. DISCHARGE OF ACCOUNT DEBTOR; NOTIFICATION OF ASSIGNMENT; IDENTIFICATION AND PROOF OF ASSIGNMENT; RESTRICTIONS ON ASSIGNMENT OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES, AND PROMISSORY NOTES INEFFECTIVE 20

    SECTION 9-408. RESTRICTIONS ON ASSIGNMENT OF PROMISSORY NOTES, HEALTH-CARE-INSURANCE RECEIVABLES, AND CERTAIN GENERAL INTANGIBLES INEFFECTIVE 21

    SECTION 9-502. CONTENTS OF FINANCING STATEMENT; RECORD OF
    MORTGAGE AS FINANCING STATEMENT; TIME OF FILING FINANCING STATEMENT 23

    SECTION 9-503. NAME OF DEBTOR AND SECURED PARTY 24

    SECTION 9-507. EFFECT OF CERTAIN EVENTS ON EFFECTIVENESS OF
    FINANCING STATEMENT 33

    SECTION 9-515. DURATION AND EFFECTIVENESS OF FINANCING STATEMENT; EFFECT OF LAPSED FINANCING STATEMENT 34

    SECTION 9-516. WHAT CONSTITUTES FILING; EFFECTIVENESS OF FILING. 34

    SECTION 9-518. CLAIM CONCERNING INACCURATE OR WRONGFULLY FILED RECORD 36

    SECTION 9-521. UNIFORM FORM OF WRITTEN FINANCING STATEMENT AND AMENDMENT 40

    SECTION 9-607. COLLECTION AND ENFORCEMENT BY SECURED PARTY 46

    SECTION 9-801. EFFECTIVE DATE 47

    SECTION 9-802. SAVINGS CLAUSE 47

    SECTION 9-803. SECURITY INTEREST PERFECTED BEFORE EFFECTIVE DATE 47

    SECTION 9-804. SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE
    DATE 48

    SECTION 9-805. EFFECTIVENESS OF ACTION TAKEN BEFORE EFFECTIVE
    DATE 48

    SECTION 9-806. WHEN INITIAL FINANCING STATEMENT SUFFICES TO
    CONTINUE EFFECTIVENESS OF FINANCING STATEMENT. 50

    SECTION 9-807. AMENDMENT OF PRE-EFFECTIVE-DATE FINANCING
    STATEMENT 51

    SECTION 9-808. PERSONS ENTITLED TO FILE INITIAL FINANCING STATEMENT
    OR CONTINUATION STATEMENT 52

    SECTION 9-809. PRIORITY 53

    PART TWO

    MODIFICATIONS TO THE COMMENTS UNACCOMPANIED BY
    AMENDMENTS TO THE OFFICIAL TEXT
    SECTION 9-102. DEFINITIONS AND INDEX OF DEFINITIONS 54

    SECTION 9-104. CONTROL OF DEPOSIT ACCOUNT 57

    SECTION 9-109. SCOPE 58

    SECTION 9-301. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS 59

    SECTION 9-501. FILING OFFICE 60

    SECTION 9-307. LOCATION OF DEBTOR 61

    SECTION 9-322. PRIORITIES AMONG CONFLICTING SECURITY INTERESTS IN
    AND AGRICULTURAL LIENS ON SAME COLLATERAL 63

    SECTION 9-509. PERSONS ENTITLED TO FILE A RECORD 65

    SECTION 9-322. PRIORITIES AMONG CONFLICTING SECURITY INTERESTS IN
    AND AGRICULTURAL LIENS ON SAME COLLATERAL 65

    SECTION 9-326. PRIORITY OF SECURITY INTERESTS CREATED BY NEW
    DEBTOR 67

    SECTION 9-330. PRIORITY OF PURCHASER OF CHATTEL PAPER OR
    INSTRUMENT 68

    SECTION 9-509. PERSONS ENTITLED TO FILE A RECORD 70

    SECTION 9-512. AMENDMENT OF FINANCING STATEMENT 71

    SECTION 9-602. WAIVER AND VARIANCE OF RIGHTS AND DUTIES 73

    SECTION 9-610. DISPOSITION OF COLLATERAL AFTER DEFAULT 75

    SECTION 9-624. WAIVER 75

    SECTION 9-610. DISPOSITION OF COLLATERAL AFTER DEFAULT 76

    SECTION 9-611. NOTIFICATION BEFORE DISPOSITION OF COLLATERAL. 77

    SECTION 9-613. CONTENTS AND FORM OF NOTIFICATION BEFORE
    DISPOSITION OF COLLATERAL: GENERAL 77

    SECTION 9-616. EXPLANATION OF CALCULATION OF SURPLUS OR
    DEFICIENCY 79

    SECTION 9-621. NOTIFICATION OF PROPOSAL TO ACCEPT COLLATERAL 80

    SECTION 9-625. REMEDIES FOR SECURED PARTY’S FAILURE TO COMPLY WITH ARTICLE 81

    SECTION 9-706. WHEN INITIAL FINANCING STATEMENT SUFFICES TO
    CONTINUE EFFECTIVENESS OF FINANCING STATEMENT 81

    SECTION 8-103. RULES FOR DETERMINING WHETHER CERTAIN OBLIGATIONS AND INTERESTS ARE SECURITIES OR FINANCIAL ASSETS 83

    ARTICLE 11: EFFECTIVE DATE AND TRANSITION PROVISIONS 84

     

    Uniform Commercial Code, Proposed Amendments to: Article 9. Secured Transactions, Tentative Draft 2010 - PDF Download