New Amendments to UCC Article 9 Now Effective in Most Jurisdictions

On July 1, 2013, amendments to Article 9 of the Uniform Commercial Code, which governs using personal property as collateral, became effective in most jurisdictions. The changes to Article 9 affect both existing and future transactions. This article summarizes the changes most likely to affect new transactions and the transition rules that will apply to bringing existing transactions into compliance with the new requirements.

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