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.

A volume of the complete text of the UCC is available for purchase from Thomson Reuters.

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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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