What is the UCC and How Does it Pertain to Secured Party Creditors?
Any secured party creditor should be familiar with the filing of a UCC-1. This is a form that is related to Section 9 of the Uniform Commercial Code (UCC) that was established in 1952, and has been updated at various times since its inception. While the Code itself may be a lengthy one, it is really quite simple as it pertains to secured transactions. The UCC was established as a means to harmonize the state laws that deal with commercial transactions and sales. The UCC deals with transactions that involve personal property only and does not have anything to do with real property transactions. The Code is a long-term joint project of the American Law Institute and National Conference of Commissioners on Uniform State Laws. States are not required to use the Code as law, but only as a recommendation as to the laws that should be adopted. While the majority of states have incorporated the entire Code as part of their law, there could be certain aspects of it that will vary from state to
