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The official 2007 edition of the UCC. The Uniform Commercial Code (UCC), first published in 1952, is one of a number of uniform acts that have been established as law with the goal of harmonizing the laws of sales and other commercial transactions across the United States through UCC adoption by all 50 states, the District of Columbia, and the Territories of the United States.
The following table identifies which articles in the UCC each U.S. jurisdiction has currently adopted. However, it does not make any distinctions for the various official revisions to the UCC, the selection of official alternative language offered in the UCC, or unofficial changes made to the UCC by some jurisdictions.
A UCC-1 financing statement (an abbreviation for Uniform Commercial Code-1) is a United States legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor (a person who owes a debt to the creditor as typically specified in the agreement creating the debt).
Between 1989 and 1998, CSC expanded through the acquisitions of nine other service providers, including Prentice Hall Legal & Financial Services in 1995, and Entity Service Group, LLC in 1998. [10] In 2003, CSC acquired Lexis-Nexis Document Solutions [11] to supplement its Uniform Commercial Code (UCC), secured lending, and motor vehicle ...
The UCC is a body of law passed by the U.S. state legislatures and is generally uniform among the states. The general law of contracts, which applies when the UCC does not, is mostly common law, and is also similar across the states, whose courts look to each other's decisions when there is no in-state precedent.
The UCC-1 statement of financing The conditions, covenants, and restrictions of an association for assessments collection Foreclosing under the provision of the power of sale allows the lien holder on the real estate to avoid the costly court actions for the judicial foreclosure should the owner default in a trust deed [ 2 ]
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In addition to the basic lien-priority coverage, UCC insurance covers many of the risks associated with the perfection of a security interest through the central filing system, such as the authorized execution of the lien-granting document by the debtor, misindexed filings, unauthorized termination statements filed against the record, the ...
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