What does UCC Article 9 cover?

Posted on by Emilia Duggan

What does UCC Article 9 cover?

Article 9 is a section under the UCC governing secured transactions including the creation and enforcement of debts. Article 9 spells out the procedure for settling debts, including various types of collateralized loans and bonds.

What is investment property UCC?

(49) “Investment property” means a security, whether certificated or uncertificated, security entitlement, securities account, commodity contract, or commodity account.

What is article9 perfection?

PERFECTION OF SECURITY INTERESTS IN CHATTEL PAPER, DEPOSIT ACCOUNTS, DOCUMENTS, GOODS COVERED BY DOCUMENTS, INSTRUMENTS, INVESTMENT PROPERTY, LETTER-OF-CREDIT RIGHTS, AND MONEY; PERFECTION BY PERMISSIVE FILING; TEMPORARY PERFECTION WITHOUT FILING OR TRANSFER OF POSSESSION. § 9-313.

What is cash under the UCC?

Cash proceeds consist of “money, checks, deposit accounts, or the like.” U.C.C. § 9-102 (a)(9). Article 9 further assists secured parties by continuing indefinitely perfection of security interests in “identifiable cash proceeds” if the security interest in the original collateral was properly perfected.

How do I collect from UCC filing?

What Information Should I Send to a Collections Agency?

  1. A copy of the signed Security Agreement.
  2. A recorded copy of the UCC filing.
  3. A current UCC search.
  4. A description of the item(s) sold aka the collateral.
  5. The claim amount (how much you are owed by the debtor)
  6. The current fiscal status of your debtor.

What is revised Article 9?

The second important general transition rule is that, from the Effective Date, Revised Art. 9 will govern all secured transactions within its scope, even secured transactions consummated prior to such date, with two exceptions: (i) secured transactions that are not governed by Current Art.

What is Article 9 certification AZ?

Arizona Administrative Code r6-6-901, commonly known as Article 9, is an Arizona law. This law relates to how the Divisions of Developmental Disabilities will proactively and positively support people’s positive and adaptive behavior.

Does UCC cover cash?

Article 9. Despite a pro-secured creditor treatment of cash proceeds, the Uniform Commercial Code puts at least one significant limitation on the secured party’s ability to recover cash proceeds upon the debtor’s default.