Article 9 of the Uniform Commercial Code: What you need to know

Types of Personal Property Covered by Article 9 and Their Legal Definitions

There are eleven substantive articles in the Uniform Commercial Code (UCC). Out of the eleven, Article 9, governs the secured transactions in personal property or fixtures. UCC Article 9 monitors enforcement and creation of security interests in intangible property, fixtures and movable properties. It governs secured transactions in all fifty states of the United States, where security interests are taken in personal property.

In this 60-minute session, Jeffery W. Johnson will provide an overview of Article 9 and will focus on the most relevant factors bankers and administrators need to know in order to "Attach" and "Perfect" the most common forms of personal property. Jeffery will focus less on theory and more on the practical application of the rules under Article 9 including:

  • Types of personal property covered by Article 9 and their legal definitions
  • Preparing all UCC Financing Statements Forms properly to insure perfection
  • Utilizing the proper collateral descriptions on Security Agreements and Financing Statements
  • Filing the Financing Statements in the proper location and other areas of concern.

Session Agenda:

  • The loan documentation process
  • Collateral definitions
  • Introduction and history of the UCC Article 9
  • Types of collateral governed by the UCC
  • Collateral descriptions on Security Agreements & UCC Financing Statements
  • Completing the Financing Statements
  • Case studies, charts, and step by step analysis to certain occurrences from our charts and graphs
  • Review of UCC forms
  • Common errors when completing UCC forms
  • Completing and filling financial statements

Who should attend

This program will benefit professionals who work in the banking, credit, and financial services industry at the middle and upper management levels.

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