Special Report on
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UCC Legal Forms - Trends
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After more than a decade of effort, the legal organizations that sponsor the American Uniform Commercial Code are reaching the end of a major revision and expansion. The Uniform Commercial Code (UCC) forms the backbone of commercial law in all of America's 50 states. Although all major parts of the UCC have been or are being affected by the changes to this law, the latter part of this process is now affecting two of the major parts of this law that directly impact on unsecured trade creditors' rights - sales and secured transactions. The substance of the proposed new UCC provisions are very important in how ...
to give notice of his interest in the fashion required for the type of collateral in question. This often requires the filing of a financing statement . Use this form to perfect a security interest . Perfected status confers upon the secured party the right to recover the value of his claim from the collateral prior to any distribution of such proceeds to creditors holding subsequently perfected interests and unsecured creditors, but subject to the claim of creditors holding previously perfected interests. State Law Compliance : Designed for use in California. This packet includes: (1) UCC1 Read More
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